BUZZ-IMI Plc: Reported revenue down, FX bites

Fri, 14th Nov 2014 08:36

** British engineering company IMI Plc's shares fallas much as 2.4 pct in early trade & is among the worstperformers on the FTSE 100.

** Forex impact continues to weigh on revenue.

** IMI said it expects overall results for the year to bebroadly in line with current market expectations, despite marketconditions being more difficult than anticipated particularly inGermany.

** IMI also announced of acquisition of Germany-based valvemaker Bopp & Reuther Holding GmbH for an enterprise value of152.6 mln euros (about $190 mln) to strengthen its power sectoroffering in emerging markets.

** Shares in the company have fallen 18 pct in the last oneyear.

** Out of the 19 analysts covering the stock, 8 have a"hold" rating on the stock, according to Thomson Reuters Eikondata.

** IMI supplies flow-control systems such as valves topower, nuclear, oil and gas and petrochemical industry. (aashika.jain.thomsonreuters.com@reuters.net)

IMI