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Prices & Quotes - UK Markets - Rotork (ROR)

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Share Price:
Up 301.80p
Change Today:
2.40p
Market Cap:
2,634.14m
Sector:
Industrial Engineering

Rotork annual profit rises as margins improve

By Michele Maatouk

Date: Tuesday 03 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Rotork posted a rise in full-year profit on Tuesday as margins improved and the company said its growth acceleration programme was on track.
Pre-tax profit for 2019 was up 2.7% at ?124.1m, with order intake 1.5% higher at ?691.9m but revenue down 3.8% at ?669.3m. Divisionally, order intake was strongest in its highest margin business, Rotork Controls.

The full-year dividend was lifted 5.1% to 6.2p a share.

Rotork said the decline in revenue was down to a reduction in large project activity, product and portfolio rationalisation and the loss of sales to sanctioned countries.

Profit was boosted by an improvement in margins, which were ahead of expectations. The adjusted operating margin was up 160 basis points to 22.6%, benefiting from the growth acceleration programme savings.

Rotork said it had delivered an "encouraging" set of results, despite large project activity slowing further as geopolitical uncertainty remained high and customers exercised more caution on capital investment decisions.

Chief executive Kevin Hostetler said: "The year was about margin improvement, cash generation and laying the foundations for sales acceleration. We made excellent progress on all pillars of the Programme, including sales force re-alignment to end markets, lean initiatives, purpose and values launches and our IT solution design. We remain committed to delivering sustainable mid to high single digit revenue growth and mid 20s adjusted operating margins over time."

Hosteler said it was too early to assess fully the potential effects of the coronavirus outbreak.

"Absent these, we were planning for modest sales growth on an organic constant currency basis and margin progress in 2020, driven by further benefits of our growth acceleration programme albeit with margin progress more gradual, reflecting our investment plans."

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Rotork Market Data

Currency UK Pounds
Price 301.80p
Change Today 2.40p
52 Week High 341.00p
52 Week Low 191.30p
Volume 1,668,809
Shares Issued 872.81m
Market Cap 2,634.14m

Performance Indicators

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What The Brokers Say

Strong Buy 4
Buy 1
Neutral 6
Sell 1
Strong Sell 2
Total 14
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rotork Dividends

  Latest Previous
  Interim Final
Ex-Div 20-Aug-20 n/a
Paid 25-Sep-20 n/a
Amount 3.90p 0.000p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 646,440 @ 301.80p
16:29 29 @ 302.00p
16:29 341 @ 302.00p
16:29 593 @ 301.60p
16:29 3,264 @ 301.60p

Rotork Key Personnel

CEO Kevin Hostetler