Invensys posts strong earnings
Engineer Invensys, down 11.5p at 297.2p, reported a 6% rise in operating profit to £262m for 2010 thanks to a strong performance in its digital controls business.
The dividend is up by a third to 4p a share.
Chief executive Wayne Edmunds, who took the helm in March after the abrupt departure of his predecessor Ulf Henriksson, said there had been some delays to big orders in the rail division but that the company is 'still in pursuit' of the contracts.
The order intake overall slipped 1% to £2.45bn.
Deena Mattar, a former finance director of Kier Group who married John Dodds, the erstwhile chief executive at that firm, after an office romance, has been appointed a non-executive director.
Edmunds shrugged off persistent rumours that Invensys is a takeover target for the likes of Siemens of Germany.
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