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Rotork H1 Pre-tax Profit Up 12.1%; Hikes Interim Dividend - Quick Facts

Rotork plc (ROR.L) reported that its profit before tax for the first half of 2018 rose 12.1 percent to 54.7 million pounds from 48.8 million pounds in the previous year.

Profit for the period was 41.20 million pounds or 4.7 pence per share, up from 37.32 million pounds or 4.3 pence per share in the prior year.

Adjusted earnings per share rose to 5.6 pence from 4.4 pence in the previous year.
Revenue for the period grew 10.4 percent to 331.0 million pounds from 299.7 million pounds in the prior year. On an OCC basis, revenue grew 14.8 percent.

Group order intake in the period rose 9.1 percent, or 13.3 percent on an organic constant currency or OCC basis.

The order book at 30 June 2018 was 226.2 million pounds, 17.5 percent higher than at 31 December 2017, giving good visibility entering the second half.

Looking ahead, Rotork expects revenues for the full year 2018 to show high single digit growth over last year on a reported basis, with currency headwinds reduced to circa 3 percent at current exchange rates.

The company continues to expect adjusted operating margins for the year to be slightly ahead of the prior year.

The Board has decided to increase the interim dividend by 7.3 percent to 2.2 pence, reflecting confidence in progress for the full year. The interim dividend of 2.2 pence per ordinary share will be paid on 21 September 2018 to shareholders on the register at the close of business on 24 August 2018.

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