1st May 2026 10:15
(Alliance News) - Rotork PLC on Friday, ahead of its annual general meeting, reported first-quarter trading in line with management's expectations, as it backed its full-year guidance.
The provider of flow control solutions said order intake fell in the first quarter of 2026, by a low single-digit percentage on an organic constant currency basis, compared to a year prior.
The Bath, England-based company noted "good momentum" in Chemical, Process and Industrial and Water & Powers orders, but explained this was offset by an expected decline in Oil & Gas.
Rotork said revenue improved by a low single digit percentage on an organic constant currency basis, reporting "strong growth" in CPI and Water & Power. This growth was attributed to "sustained momentum" in its target segments, "including continued strength in data centres and good activity across water infrastructure and treatment markets."
Rotork noted some project delays in Oil & Gas in the Middle East region, stating this reflects a combination of wider supply chain constraints and customers prioritising production restarts.
The company noted that is has not seen any "material" cost inflation during the quarter, but said it retains the ability to protect margins through prices increases.
Looking ahead Rotork, kept its 2026 outlook unchanged. The company continues to expect further progress on an organic constant currency basis.
Rotork expects further momentum in CPI and Water & Power, with both divisions supported by its target segments and Rotork Service.
For Oil & Gas, the company guides for a stable performance, but with a second-half weighting. Including the Middle East, its outlook now assumes that some of the projects delayed in the first half will be delivered in the second half. It also expects a "modest" uplift in maintenance and repair activity in the region.
Rotork added that net cash including lease liabilities was GBP56.9 million at March 31, down 13% from GBP65.3 million in December.
Shares in Rotork were 1.5% higher at 313.40 pence on Friday morning in London.
The company is scheduled to publish its interim results on August 4.
By Christopher Ward, Alliance News reporter
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