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Investing.com -- Shares of specialist engineering firm IMI (LON:IMI) rose by 4.2% to 1,868p after Thursday’s announcement about strategic review.
The company declared a strategic review of its transport business, which accounted for 8% of its revenue in 2024.
In addition to the strategic review, IMI reaffirmed its financial guidance for the fiscal year 2025.
The company expressed confidence in its ability to manage tariffs using its global footprint and pricing surcharge.
However, the company reported a 3% decrease in group organic revenue in the first quarter.
This reduction was attributed to the temporary impact of a cyber attack.
Despite the decline in revenue, the company noted an improvement in margins, indicating that it was able to maintain profitability despite the challenges.
The announcement of the strategic review and the reaffirmation of the fiscal year 2025 guidance appear to have positively impacted investor sentiment, as reflected in the increase in the company’s share price.
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