Aug 1 IMI Plc, a supplier of
flow-control systems, reported a 6 percent drop in adjusted
operating profit for the first half of the year, hit by the
Adjusted operating profit fell to 137 million pounds ($231
million) in the six months ended June 30 from 146 million pounds
a year earlier.
Revenue fell 3 percent to 809 million pounds.
The company said the strong pound had an adverse impact on
revenue to the tune of 45 million pounds for the period.
Operating profit took a 7 million-pound hit.
IMI, which supplies valves for power and petrochemical
plants, said it expected to double its full-year 2014 operating
profit over the five years that follow.
The FTSE-100 company raised its interim dividend to 13.6
pence per share from 12.8 pence a year earlier.
($1 = 0.5925 British Pounds)
(Reporting by Aashika Jain in Bangalore; Editing by Robin