(Alliance News) - Rotork PLC on Tuesday reported increases in both revenue and profit for 2022, as it lifted full-year dividend by 4.7%.
For the 2022, the industrial flow control equipment provider reported revenue of GBP641.8 million, up 13% from GBP569.2 million a year earlier, benefiting from the second half's "strong recovery in deliveries".
Pretax profit rose 17% to GBP124.1 million from GBP105.9 million, while operating profit increased by 17% to GBP123.6 million from GBP105.7 million a year ago.
Order intake for 2022 was up 11% to GBP681.6 million from GBP614.1 million in 2021.
Rotork noted successful supply chain improvement measures reduced disruption through the year.
Chief Executive Kiet Huynh said: "I am pleased to report a resumption of organic sales growth and a strong second half performance as expected. This was particularly encouraging given 2022's highly challenging backdrop which included significant supply chain disruption and a resurgence in inflation.
The outlook for our end markets is positive and we entered the year with a record opening order book."
Rotork declared a full-year dividend of 6.70 pence each, up 4.7% from 6.40p a year prior.
Closing net cash amounted to GBP105.9 million at period end, compared with GBP114.1 million in 2021.
Shares were down 0.4% at 328.60 pence each on Tuesday morning in London.
By Xindi Wei, Alliance News reporter
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Rotork (ROR)