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Investing.com -- Engineering group IMI PLC (LON:IMI) reported 2% organic revenue growth and 5% organic adjusted operating profit growth for the first half of 2025, reaffirming its full-year earnings guidance despite challenges from a cyber incident earlier in the year.
The FTSE 100 company saw its adjusted operating margin increase by 30 basis points to 18.2% compared to the same period last year.
Statutory revenue decreased by 1%, primarily due to foreign exchange movements, while statutory operating margin fell 160 basis points to 14.5%. Shares in IMI rose 0.8% following the announcement.
Process Automation delivered an "outstanding performance" with 8% organic sales growth and an order book now 5% higher than June 2024.
Industrial Automation sales declined 4% organically, though the company noted improving trends and catch-up shipments expected in the second half.
The Life Technology division saw a 1% organic revenue decline, with Climate Control up 5% on strong demand for energy-efficient solutions, while Life Science & Fluid Control and Transport segments fell 5% and 9% respectively.
"The growth strategy launched in 2019 has fundamentally transformed IMI, materially strengthening our competitive position, driving a step change in customer satisfaction, market-led innovation and operational efficiency and laying the ground for compounding organic growth," said Roy Twite, Chief Executive Officer.
The company reported adjusted operating cash flow up 21%, though free cash flow was lower due to a cyber incident in the first quarter and a £26 million loan to its UK pension scheme.
IMI completed a £200 million share buyback and proposed a 10% increase in its interim dividend to 11.0p per share.
IMI reconfirmed its full-year guidance, expecting adjusted basic earnings per share between 129p and 136p, and remains on track to deliver its fourth consecutive year of mid-single digit organic revenue growth.