Last checked at 
(Sharecast News) - Valve and instrumentation maker Rotork said first quarter performance continued to improve in line with expectations despite the impact of the Covid-19 pandemic.
The company on Friday said revenue was up mid-single digits year-on-year on an organic constant currency basis, in part reflecting the weighting of first half 2020 sales to the second quarter.
"Like many global businesses we are seeing elevated logistics costs and disruption to some supply routes as well as commodity cost escalation," Rotork said in a trading update.
"In order to mitigate the higher logistics costs we introduced temporary surcharges on the most affected routes earlier this year. Commodity cost inflation is anticipated to be largely offset by our January price increase."
Rotork reported net cash of £190.8m at April 4, up from £178m at the end of 2020.
"We continue to strengthen our business and are well placed to benefit from recovering demand. Whilst the outlook for our end markets is improved, Covid-19 related uncertainty remains. We remain committed to delivering sustainable mid to high single digit revenue growth and mid 20s adjusted operating profit margins over time."
23 Apr 2024 14:29
UK shareholder meetings calendar - next 7 days
| Wednesday 24 April | |
| abrdn PLC | AGM |
| abrdn Equity Income Trust PLC | AGM |
| AssetCo PLC | AGM |
| Breedon Group PLC | AGM |
| British American Tobacco PLC | AGM |
| Bunzl PLC | AGM |
| Coro Energy PLC | AGM |
| Croda International PLC | AGM |
| Entain PLC | AGM |
| Greencoat UK Wind PLC | AGM |
| Primary Health Properties PLC | AGM |
| Serco Group PLC | AGM |
| Synectics PLC | AGM |
| Thursday 25 April | |
| AFC Energy PLC | AGM |
| Admiral Group PLC | AGM |
| Beazley PLC | AGM |
| BP PLC | AGM |
| CLS Holdings PLC | AGM |
| CRH PLC | AGM |
| Dalata Hotel Group PLC | AGM |
| Develop North PLC | AGM |
| Drax Group PLC | AGM |
| Everest Global PLC | AGM |
| Greencoat Renewables PLC | AGM |
| Hammerson PLC | AGM |
| Helios Towers PLC | AGM |
| Hikma Pharmaceuticals PLC | AGM |
| International Biotechnology Trust PLC | AGM |
| London Stock Exchange Group PLC | AGM |
| Manx Financial Group PLC | AGM |
| Mattioli Woods PLC | GM re Pollen Street Capital Ltd takeover |
| Persimmon PLC | AGM |
| Premier Miton Global Renewables Trust PLC | AGM |
| Relx PLC | AGM |
| Schroders PLC | AGM |
| Smithson Investment Trust PLC | AGM |
| Tissue Regenix Group PLC | AGM |
| Weir Group PLC | AGM |
| Friday 26 April | |
| Bellevue Healthcare Trust PLC | AGM |
| Kingspan Group PLC | AGM |
| Me Group International PLC | AGM |
| Pearson PLC | AGM |
| Senior PLC | AGM |
| Smurfit Kappa Group PLC | AGM |
| Monday 29 April | |
| Goldstone Resources Ltd | AGM |
| Hydrogen Future Industries PLC | AGM |
| JPMorgan Claverhouse Investment Trust PLC | AGM |
| KR1 PLC | EGM re buying up to 15% of shares in issue |
| Ocado Group PLC | AGM |
| Secured Property Developments PLC | GM re name change to Mollyroe PLC |
| Symphony International Holdings Ltd | AGM |
| Tuesday 30 April | |
| Amigo Holdings PLC | GM re capital raise |
| Anglo American PLC | AGM |
| BBGI Global Infrastructure SA | AGM |
| CVC Income & Growth Ltd | AGM |
| Elementis PLC | AGM |
| Minoan Group PLC | AGM |
| Pebble Group PLC | AGM |
| Robert Walters PLC | AGM |
| Rotork PLC | AGM |
| Comments and questions to newsroom@alliancenews.com | |
| A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional. | |
| Copyright 2024 Alliance News Ltd. All Rights Reserved. | |