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Rotork Issues Trading Update; Projects H1 Group Revenues To Be Down 11-13%

Rotork Plc (ROR.L) said the Group's trading has held up reasonably well despite the unprecedented economic environment. For the first half, the Group projects adjusted operating profits to be lower, margins to be relatively resilient. Group revenues are projected to be circa 11-13% down from previous year, reflecting COVID-19 related disruption. Group order intake will be circa 16-18% lower than prior year on an OCC basis.

Rotork Plc said all its production facilities are currently open, albeit in a small number of cases operating at below normal output levels.

Rotork Plc had 125.6 million pounds of net cash as at 31 May 2020. It recently entered into a new committed two-year revolving credit facility for 60 million pounds with banks.

Rotork Plc expects to publish its half-year results on 4 August 2020.

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