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Investegate | Company News | Corporate, London Stock Exchange, Regulatory News Headlines Rotork profit edges back 1.6%; lifts dividend amid stronger margins


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Rotork annual profit drops as project activity falls under pandemic


Rotork annual profit drops as project activity falls under pandemic
Tue, 2nd Mar 2021 10:47
(Alliance News) - Rotork PLC on Tuesday reported a weaker performance for 2020, due to subdued project activity and disruption to production and logistics caused by the Covid-19 pandemic.
For the year, the Bath-based electric, pneumatic and hydraulic valves manufacturer posted a pretax profit of GBP122.0 million, a 1.6% drop from GBP124.1 million the year before.
Rotork s operating margin rose by 100 basis points to 23.6%, a rise attributed to savings generated through its growth acceleration programme , which is aimed at optimising Rotork s manufacturing footprint, rationalising its supply chain, and upgrading IT infrastructure. ....

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