Specialist engineering company IMI Plc (IMI.L), on Thursday, reported a 4% rise in Q1 group organic revenue, with adjusted revenue remaining flat with last year, reflecting the foreign currency movements seen in the first quarter.
The company stated that its restructuring programme remains on track to deliver £15 million of incremental benefits for the full year and £7 million in 2025, with no changes to expected delivery costs.
Roy Twite, Chief Executive, said, "We were pleased to deliver another solid quarter of organic growth, up 4% in the first quarter, in mixed markets and against a strong comparator. Based on current market conditions, our guidance remains unchanged and we still expect that 2024 full year adjusted EPS will be between 120p and 126p".
Based on current market conditions, the company continues to expect FY24 adjusted earnings in the range of 120p - 126p per share.
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