Rotork expects lower sales in 2019 as customers delay orders

Thu, 21st Nov 2019

Rotork expects slightly weaker sales in 2019 compared to 2018 as customers have delayed orders until the new year. In a trading update, the global flow control and instrumentation company said new orders improved compared to the third quarter of 2018 but that large project activity remained subdued. A slightly greater than usual proportion of recent orders were not scheduled for delivery until next year, meaning "modestly lower" sales year-on-year. This also reflected order phasing, portfolio and product rationalisation, and the impact on the prior year from delivery of several significant projects and sales to countries subsequently placed under sanction. Full year adjusted operating margins were expected to show good progress year-on-year, Rotork said, benefiting from continued execution of its growth acceleration Programme. Operating profit was expected to be in line with management expectations. At 8:06am: (LON:ROR) Rotork PLC share price was -19.4p at 316.1p Story provided by StockMarketWire.com

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