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Rotork Plc FY18 Pretax Profit Rises; Revenue Up 8.3% - Quick Facts

Rotork Plc (ROR.L) reported profit before tax of 120.7 million pounds for the year ended 31 December 2018 compared to 80.6 million pounds, prior year. Earnings per share was 10.5 pence compared to 6.4 pence. Adjusted profit before tax improved 15.3% to 143.8 million pounds. Adjusted earnings per share was 12.6 pence compared to 10.5 pence.

Fiscal year revenue improved 8.3% to 695.7 million pounds. Revenue improved 11.3% in organic constant currency, for the fiscal period. Order intake increased 2.3% on the prior year, or 5.4% on an OCC basis.

Kevin Hostetler, Chief Executive, said: "Following double-digit OCC revenue growth in 2018, and mindful of macroeconomic uncertainty, we are planning for slower growth in 2019. Based on our current assessment of project phasing, we expect to deliver modest sales growth on an OCC basis in 2019, with lower year on year sales in H1 reflecting the strong comparator period. Margins will benefit from the restructuring plans under our Growth Acceleration Programme and the implementation of additional cost saving initiatives. Overall, we expect full year margins to show progress on 2018."

The Board recommended a final dividend of 3.7 pence per share, an increase of 10.4% from the 2017 final dividend. With the 2018 interim dividend of 2.2 pence, the total dividend for the year is 5.9 pence, a 9.3% increase on 2017. The final dividend will be payable on 22 May 2019 to shareholders on the register on 12 April 2019.

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