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IMI FY Pre-tax Profit Down

IMI plc (IMI.L) reported that its profit before tax for the year ended 31 December 2019 decreased to 189.3 million pounds from 212.9 million pounds in the prior year.

Annual profit was 156.1 million pounds or 57.6 pence per share down from 169.4 million pounds or 62.4 pence per share in the prior year.

Adjusted basic earnings per share was 73.2 pence, flat on last year.

Revenue for the year was 1.87 billion pounds, down from 1.91 billion in the prior year.

The Board has recommended that the final dividend is increased by 1% to 26.2 pence making a total dividend for the year of 41.1 pence, an increase of 1% over last year's 40.6 pence.

The company expects first half organic revenues to be lower than the first half of 2019.

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