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Pin to quick picksRotork Share News (ROR)

Share Price Information for Rotork (ROR)

London Stock Exchange
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Share Price: 327.20
Bid: 327.00
Ask: 327.40
Change: 0.40 (0.12%)
Spread: 0.40 (0.122%)
Open: 320.20
High: 328.20
Low: 320.20
Prev. Close: 326.80
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Rotork Sees Improved Trading In Four Months But Uncertainty Remains

Wed, 25th Nov 2020 10:37

(Alliance News) - Rotork PLC on Wednesday reported a "resilient" performance in the first ten months of 2020 and said it expects its adjusted operating profit to be in line with current market forecasts.

The Bath, England-based industrial flow control equipment manufacturer said order intake in the four months to November 1 showed sequential improvement, with the decline slightly less than the 16% experienced in the first half. Large project activity has remained subdued, the company noted.

During the period, Rotork said its revenue was at 97% of the 2019 level on an organic constant currency basis, an improvement on the first-half's 9.6% year-on-year decline.

Third-quarter adjusted operating profit margins, meanwhile, benefited from continued execution of the company's 'Growth Acceleration Programme' and other management actions, and Rotork said it now anticipates full-year margin progress year-on-year.

Going forward, Rotork said it remains highly cash generative with a strong balance sheet. Net cash at November 1 was GBP146.8 million compared to GBP106.1 million at the end of 2019.

"The group's performance in the first ten months has demonstrated the improved resilience of the business. Although there remains uncertainty on the continuing impact of the Covid-19 pandemic, and risks of temporary factory closures and logistics issues, we expect 2020 adjusted operating profit to be at, or slightly above, the top end of the range of current market expectations," the company said in its statement Wednesday.

Rotork shares were trading 0.8% higher in London on Wednesday at 320.40 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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21 Mar 2024 09:35

Rotork begins first tranche of GBP50 million share buyback programme

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6 Mar 2024 09:07

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5 Mar 2024 10:41

Rotork announces GBP50 million buyback after strong 2023 performance

(Alliance News) - Rotork PLC on Tuesday said that an easing up of supply chain challenges had driven a solid performance in 2023, providing the necessary financial flexibility to launch a major buyback.

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5 Mar 2024 08:20

Rotork launches £50m share buyback after strong year

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1 Mar 2024 18:26

IN BRIEF: Rotork adds Spectris CEO and Landsec CFO to board

Rotork PLC - Bath, England-based industrial flow control equipment company - Bolsters board by adding Andrew Heath and Vanessa Simms as independent non-executive directors. Heath joins from start of April, Simms from June 21. Heath is currently the chief executive of Spectris PLC, a supplier of high-tech instruments, test equipment and software for industrial applications. Simms is the chief financial officer of property investor Land Securities Group PLC.

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27 Feb 2024 15:45

UK earnings, trading statements calendar - next 7 days

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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.

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29 Jan 2024 14:15

Broker tips: Kingfisher, Rotork, IMI, Intertek

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(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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29 Jan 2024 08:40

Outlook finally improving for IMI and Rotork, says Berenberg

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13 Dec 2023 21:45

IN BRIEF: Rotork appoints Tim Cobbold as Peter Dinot steps down

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8 Dec 2023 09:39

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22 Nov 2023 15:12

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22 Nov 2023 10:26

IN BRIEF: Rotork trading in-line with consensus; improved order intake

Rotork PLC on Wednesday - Bath, England-based industrial flow control equipment company - Says it has traded in line with expectations in the four months to October 29, with improved order intake on an organic constant currency basis from the corresponding period a year prior. Adds that year-to-date order intake grew by almost 10% at OCC, as supply chain challenges improve. Looking ahead, it expects growth in full-year revenues on an OCC basis and forecasts improvement in its annual adjusted operating profit margin, which was 22.3% in 2022.

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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