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British engineer IMI says strong pound hits revenue
May 8, 2014 / 6:25 AM / in 4 years

British engineer IMI says strong pound hits revenue

May 8 (Reuters) - British engineering company IMI Plc reported a 4 percent decline in group revenue for the first four months of the year, hurt by the impact of a strong pound.

The company, which supplies flow-control systems such as valves for power, nuclear, oil and gas and petrochemical plants, said it expected margins to be “slightly lower” in the first half of 2014 than a year earlier.

The Birmingham-headquartered company has operations in China, Brazil, Europe and North America. (Reporting by Aashika Jain in Bangalore; Editing by Robin Paxton)

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