Business
Final Results
Final Results.
About this update from Rotork Plc
[{"type":"text","content":"\n \nRNS Number : 8530X Rotork PLC 27 February 2017 \n \n\n27 February 2017\nRotork plc\n2016 Full Year Results\n \n\n\n\n\n \n\n\n2016\n\n\n2015\n\n\n% change\n\n\nOCC 2 %\nchange\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n£590.1m\n\n\n£546.5m\n\n\n+8.0%\n\n\n-8.0%\n\n\n\n\nAdjusted1 operating profit\n\n\n£120.6m\n\n\n£125.3m\n\n\n-3.7%\n\n\n-18.4%\n\n\n\n\nAdjusted1 operating margin\n\n\n20.4%\n\n\n22.9%\n\n\n-250bps\n\n\n-260bps\n\n\n\n\nProfit before tax\n\n\n£91.1m\n\n\n£101.9m\n\n\n-10.6%\n\n\n-20.5%\n\n\n\n\nAdjusted1 profit before tax\n\n\n£117.9m\n\n\n£122.8m\n\n\n-4.0%\n\n\n-18.9%\n\n\n\n\nBasic earnings per share\n\n\n7.7p\n\n\n8.6p\n\n\n-10.5%\n\n\n-19.9%\n\n\n\n\nAdjusted1 basic earnings per share\n\n\n10.0p\n\n\n10.4p\n\n\n-3.8%\n\n\n-18.7%\n\n\n\n\nFull year dividend\n\n\n5.10p\n\n\n5.05p\n\n\n+1.0%\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 are before the amortisation of acquired intangible assets.\n2 OCC is organic constant currency which has all the acquisitions removed and are restated at 2015 exchange rates.\n \nSummary\n· Stabilising trading environment\n· 10% currency tailwind\n· Successful cost management programme delivered £9.2m of savings in 2016, a further £4.2m expected in 2017\n· Continued investment in product portfolio and infrastructure\n· £16.3m acquisition of Mastergear\n· Strong cash generation at 130%\n· Full year dividend increased by 1.0% to 5.10p (2015: 5.05p)\n \nPeter France, Chief Executive, commenting on the results, said:\n\"In the second half of 2016, the trading environment saw some stabilisation and we benefited from a strengthening currency tailwind. The acquisitions completed in 2015 and 2016, along with the introduction of a number of new products, also supported our growth. \n \nWe anticipate that any near-term growth in energy markets will remain modest. Our focus will remain on providing our customers with innovative, high quality products and services, reducing their cost of ownership and improving plant efficiency. \n \nCost management will remain a p...