Rotork p.l.c. Up 7% On Record Revenue And Profit

A record half-year order book provides “confidence of achieving further progress in the full year” at Rotork p.l.c. (LON:ROR).

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The share price of Rotork (LSE: ROR) —  a world-leading manufacturer  of technology to control the flow of liquids, gases and powder — is up over 7% following the release of its 2013 half-year results this morning.

The company reported record first-half revenue and profit in each of its divisions. Overall, adjusted pre-tax profit was up over 12%, at £69.4m, on group revenue that had also risen just over 12%, to £276m.

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Adjusted basic earnings per share we up 13.4%, at 57.6p, and the company has increased the interim dividend by 10.1%, to 18.05p per share.

The company also reported that order intake was up 9%, and that it now has an order book of £208m — a record for the half-year — which is up just over 15% from December 2012.

Commenting on the results, chief executive Peter France said:

Our strategy of broadening our product offering and investing in our infrastructure has enabled us to grow order intake, revenue and profit all to record levels despite the weak economic conditions in some of our regions.

“We continue to invest for further growth and anticipate that, as in previous years, the Group’s performance in 2013 will be weighted towards the second half.  The order book, project activity in the broad geographic regions we serve and our diverse end market exposure provide the Board with confidence of achieving further progress in the full year.

At the time of writing Rotork’s share price is 2,895p. That’s up almost 14% so far in 2013, 25% on this time last year, and over 160% on five years ago.

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> Jon doesn’t own shares in Rotork.

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