3rd Mar 2015 08:19
LONDON (Alliance News) - Manufacturing company Rotork PLC Tuesday said its pretax profit rose in 2014 as revenue was buoyed by strong sales in the power market, and it said that growth in other sectors would help offset the challenging energy markets it is expecting in the current year.
The FTSE 250-listed company, which makes actuators and flow control products, said its pretax profit for the year was GBP141.2 million, up from GBP138 million in 2013, as revenue rose to GBP594.7 million from GBP578.4 million on the back of a 16% increase in sales to the power market.
Rotork said its order intake for the year was up 2.9% to GBP595.6 million, while its adjusted operating margin improved by 20 basis points to 26.4%.
The company has recommended a final dividend of 30.9 pence per share, up 3% year-on-year, making its total dividend 50.1 pence per share, up from 48.05 pence a year earlier.
"2014 was another successful year for Rotork. The continued expansion of our product portfolio, international sales channels and our broad end-market exposure enabled us to achieve record results," said Chief Executive Peter France.
"Whilst our end markets in the upstream oil and gas sector may become more challenging in the near term, our other global markets remain active. Our geographic reach, end market exposure and diverse product portfolio provide the Board with confidence of achieving further progress in the coming year," France added.
Shares in Rotork were up 1.6% to 2,486.00 pence just after the open on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Rotork