May 3, 2018 / 6:59 AM / 6 months ago

BRIEF-IMI Says Q1 2018 Reflect Continuation Of Improved Trading Experienced Across Group Through 2017

May 3 (Reuters) - IMI PLC:

* RESULTS IN Q1 OF 2018 REFLECT A CONTINUATION OF IMPROVED TRADING EXPERIENCED ACROSS GROUP THROUGH 2017

* CURRENT TRADING REMAINS CONSISTENT WITH MARKET CONSENSUS EXPECTATIONS FOR YEAR

* EXCLUDING IMPACT OF ACQUISITIONS, DISPOSALS AND EXCHANGE RATE MOVEMENTS, ORGANIC REVENUES FOR THREE MONTHS TO END OF MARCH WERE 2% HIGHER YOY

* SAYS PRECISION ENGINEERING ORGANIC REVENUES IN THREE MONTHS TO END OF MARCH WERE 8% HIGHER THAN LAST YEAR

* ON AN ADJUSTED BASIS, Q1 REVENUES WERE 3% HIGHER

* CONTINUE TO EXPECT ORGANIC REVENUES IN FIRST HALF OF 2018 TO BE HIGHER THAN FIRST HALF OF 2017

* RESULTS FOR FULL YEAR ARE EXPECTED TO REFLECT NORMAL TRADING SEASONALITY

* SEES MODEST YEAR-ON-YEAR IMPROVEMENT IN MARGINS IN H1 2018

* Q1 HYDRONIC ENGINEERING REVENUES WERE 4% LOWER ON BOTH AN ORGANIC AND ADJUSTED BASIS, WHEN COMPARED TO SAME PERIOD IN 2017

* CRITICAL ENGINEERING ORGANIC REVENUES IN THREE MONTHS TO END OF MARCH WERE 4% LOWER, AND ON AN ADJUSTED BASIS WERE 7% LOWER

* 2018 FINANCIAL RESULTS WILL BE IMPACTED BY RELATIVE STRENGTH OF STERLING AGAINST EURO AND US DOLLAR Source text for Eikon: Further company coverage:

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