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Rotork Posts Lower Profit, Revenue In H1

Rotork Plc (ROR.L) , a manufacturer of industrial flow control equipment,
Tuesday reported 4.3 percent lower pre-tax profit for the half year, with over 11 percent decline in revenue, mainly due to Covid-19 disruption to production facilities and Rotork Site Services.

For the half year, the Group's profit before tax slid by 4.3 percent to 50.0 million pounds. Profit for the period declined to 38.2 million pounds from 40.0 million pounds and earnings per share slid to 4.4 pence from 4.6 pence last year.

On an adjusted basis, profit before tax decreased to 61.0 million pounds from 65.8 million pounds and earnings per share slipped to 5.4 pence from 5.8 pence last year.

For the first half, the Group's revenue declined by 11.1 percent to 283.2 million pounds, largely due to the pandemic disruption to production facilities and Rotork Site Services. On an organic constant currency basis, revenue was down 9.6 percent.

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