Business
2017 Full Year Results
2017 Full Year Results.
About this update from Rotork Plc
[{"type":"text","content":"\n \nRNS Number : 7596G Rotork PLC 06 March 2018 \n\n \n \n \nRotork plc\n2017 Full Year Results\n \n\n\n\n\n \n\n\n2017\n\n\n2016\n\n\n% change\n\n\nOCC 2 % change\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nOrder intake\n\n\n£666.5m\n\n\n£576.6m\n\n\n+15.6%\n\n\n+8.2%\n\n\n\n\nRevenue\n\n\n£642.2m\n\n\n£590.1m\n\n\n+8.8%\n\n\n+2.3%\n\n\n\n\nAdjusted1 operating profit\n\n\n£130.2m\n\n\n£120.6m\n\n\n+7.9%\n\n\n+2.5%\n\n\n\n\nAdjusted1 operating margin\n\n\n20.3%\n\n\n20.4%\n\n\n-10bps\n\n\n+10bps\n\n\n\n\nProfit before tax\n\n\n£80.6m\n\n\n£91.1m\n\n\n-11.5%\n\n\n-17.0%\n\n\n\n\nAdjusted1 profit before tax\n\n\n£124.8m\n\n\n£117.9m\n\n\n+5.8%\n\n\n+0.3%\n\n\n\n\nBasic earnings per share\n\n\n6.4p\n\n\n7.7p\n\n\n-16.9%\n\n\n-22.6%\n\n\n\n\nAdjusted1 basic earnings per share\n\n\n10.6p\n\n\n10.0p\n\n\n+6.0%\n\n\n0.0%\n\n\n\n\nFull year dividend\n\n\n5.40p\n\n\n5.10p\n\n\n+5.9%\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n1 Adjusted figures exclude the amortisation of acquired intangible assets and other adjustments.\n2 OCC is organic constant currency results excluding acquisitions and restated at 2016 exchange rates.\n3 Order intake represents the value of orders received during the year.\n \nSummary\n· Market outlook improving\n· Increasing order book\n· Growing contribution from new products and service\n· New Chief Executive appointed\n· Growth acceleration programme initiated\n· Initial opportunities actioned\n· Balance sheet strengthened with cash conversion of 109.1% \n \nMartin Lamb, Executive Chairman, commenting on the results, said: \n\"During the year, we saw a return to more favourable market conditions. We saw modest recovery in certain markets and geographies in the first half of the year with a continued improvement during the second half. \n \nOur revenue forecasts for 2018 currently reflect improving order momentum, pointing to mid to high single digit organic revenue growth year on year. However reported results will be impacted by currency movements. Based on current rates we can expect a 4-5% headwind on both revenues and prof...