IMI plc, the major international engineering group, today announced its preliminary results for the year ended 31 December 2007.
|
2007 |
|
2006 |
|
% change |
 |
| Continuing operations: |
|
|
|
|
|
Revenue
Operating profit * |
£1,599m
£210.8m |
|
£1,505m
£191.8m |
|
+6
+10 |
| |
|
|
|
|
|
| Profit before tax* |
£210.1m |
|
£194.9m |
|
+8 |
| |
|
|
|
|
|
| Restructuring costs |
£22.0m |
|
£19.7m |
|
|
| Profit before tax |
£171.0m |
|
£158.2m |
|
+8 |
| |
|
|
|
|
|
| Adjusted earnings per share** |
42.5p |
|
38.3p |
|
+11 |
| |
|
|
|
|
|
| Discontinued operations (loss net of tax) |
£1.9m |
|
£(33.5)m |
|
|
| |
|
|
|
|
|
| Basic earnings per share |
35.4p |
|
21.4p |
|
+65 |
| |
|
|
|
|
|
| Total dividend for year |
20.2p |
|
18.7p |
|
+8 |
| |
|
|
|
|
|
| * |
before restructuring, investigation costs, intangible amortisation and other income totalling £39.1m (2006: £36.7m) |
| ** |
before the after tax cost of restructuring, investigation costs, intangible amortisation, other income and change in fair value of financial instruments totalling £25.6m (2006: £23.7m) |
"This is another strong set of results, with organic sales growth of 7% and operating margins improving further to 13.2%. We have a promising new products pipeline, further cost savings expected from our recent restructuring programme, and a robust balance sheet. We look forward to another year of good progress for IMI in 2008".
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