IMI plc 2004 First Half Results - 6 September 2004
IMI plc, the major international engineering group, today announced its interim results for the six months ended 30 June 2004.
|
2004
| 2003
| % change
|
 |
| Sales |
£801m |
£780m |
+2.7 |
| Results before goodwill amortisation |
|
|
|
| Profit before tax |
£74.4m |
£65.9m* |
+12.9 |
| Adjusted earnings per share |
13.9p |
12.4p* |
+12.1 |
| Profit before tax |
£64.1m |
£56.4m |
+13.7 |
| Earnings per share |
11.0p |
9.7p |
+13.4 |
| Dividend |
6.3p |
6.0p |
+5.0 |
| Net borrowings |
£152.5m |
£199.1m |
|
| Gearing |
27% |
37% |
|
| Interest cover before goodwill amortisation |
17x |
13x |
|
* 2003 restated to include rationalisation costs of £2.4m previously shown separately
- Solid growth in sales and orders
- Margins improving
- Strong earnings growth
- Dividend increased
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