Rotork order intake up 8pc

(Sharecast News) - Industrial flow control equipment manufacturer Rotork said on Wednesday that order levels in the four months ended 27 October had been higher than at the same time a year earlier.

Rotork said its performance over the period was in line with internal expectations, with group order intake up 8% year-on-year on an organic constant currency basis as all three divisions traded ahead, led by water & power and oil & gas.

The FTSE 250-listed group kept full-year expectations unchanged and said it continues to anticipate that 2024 will be "another year of progress" on an OCC basis.

Rotork also highlighted that it remains "highly cash generative" and retains "a strong balance sheet", with net cash including lease liabilities of £106.0m.

As of 0900 GMT, Rotork shares were up 2.29% at 321.80p.

Reporting by Iain Gilbert at Sharecast.com

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