31st Jul 2026 11:37
(Alliance News) - IMI PLC on Friday reported double-digit-percentage profit growth for the first six months of this year, and raised its interim dividend by 10%.
The Birmingham, England-based engineering company's "strong first half performance" included revenue increasing 6%, or 5% organically, to GBP1.16 billion from GBP1.09 billion.
Automation revenue increased 6%, or 5% organically, to GBP732 million from GBP691 million, while Life Technology revenue increased 7%, or 5% organically, to GBP427 million from GBP400 million
Pretax profit climbed 17% to GBP190 million from GBP163 million, while adjusted pretax profit rose 10% to GBP209 million from GBP190 million.
Operating profit increased 27% to GBP201 million from GBP158 million. The adjusted figure was up 10% at GBP217 million from GBP198 million, or up 8% on an organic basis.
Basic earnings per share increased 26% to 57.7 pence from 45.7p, and adjusted basic EPS rose 13% to 63.4p from 56.1p.
Adjusting items include the reversal of net economic hedge contract gains, costs linked to IMI's sale of Truflo Marine in late 2025, and costs from a cyber incident earlier that year.
"The first half of 2026 demonstrates our strategy in action: consistent execution of the One IMI operating model, supported by three long-term megatrends - Energy, Automation and Healthcare...Over half of IMI's revenue is directly supported by rising energy demand and the need for greater energy efficiency," Chief Executive Officer Roy Twite commented. "We saw strong demand in Nuclear, Power and LNG in the first half, as we continue to benefit from widespread electrification and investment in data centres."
IMI declared a 12.1p per share interim dividend, up 10% from 11.0p the year before.
Looking ahead, Twite commented: "The strength of our first half performance gives us confidence in our outlook for 2026.
"We remain on track to deliver our sixth consecutive year of mid-single digit organic revenue growth. We continue to expect full year adjusted basic earnings per share to be between 136p and 142p."
IMI shares traded 0.9% higher at 2,972.00p late on Friday morning in London.
By Emma Curzon, Alliance News reporter
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