05 March 2008 - IMI plc Preliminary Results

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)

 

Norman Askew, Chairman of IMI commented:

"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".

Click here to view the full press release in Acrobat PDF format.

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