Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, chief executive of electric car maker Tesla, said its own battery cells, which are under development now, will not reach high-volume production until 2022. This delay can affect the Cybertruck, Semi, and Roadster programs. He also said the company intends to increase battery cell purchases from partners Panasonic, LG & CATL, and possibly other partners. U.S. Court grants Tiffany's motion to expedite lawsuit against LVMH Moët Hennessy-Louis Vuitton. However, the court has not agreed to Tiffany request for trial before November 24. Biotech company Illumina agreed to buy healthcare company GRAIL, Inc. in a cash and stock deal valued at $8 billion. This includes $3.5 billion in cash and $4.5 billion in shares of Illumina common stock. GRAIL focuses on multi-cancer early detection from blood. It is in the process of developing the technology and providing clinical data required to launch the Galleri multi-cancer screening test.
Follow RTT