IMI (IMI)

Sector:

Engineering

Index:

FTSE 100

1,826.00p
   
  • Change Today:
      12.00p
  • 52 Week High: 1,828.51
  • 52 Week Low: 1,425.00
  • Currency: UK Pounds
  • Shares Issued: 261.47m
  • Volume: 81,351
  • Market Cap: £4,774.38m
  • RiskGrade: 142

IMI Q1 revenues rise amid strong order book growth

By Michele Maatouk

Date: Thursday 05 May 2022

LONDON (ShareCast) - (Sharecast News) - Specialist engineering group IMI reported a jump in first-quarter revenues on Thursday amid strong order book growth.
In the period from 1 January to the end of March, group revenues rose 9% compared to the same period a year earlier, while margins "also slightly improved".

Revenue growth in IMI Precision came in at 16% in the first quarter, including a strong performance from recent acquisition Adaptas.

Meanwhile, IMI Critical's order book at the end of March was broadly flat compared to a year ago on a like for like basis, now that it has removed the orders affected by its decision to exit the Russian market. The segment's organic order intake in the first three months of the year was down 4% versus the same period in 2021, mainly due to timing of New Construction orders.

IMI Hydronic revenues rose 7% on an organic basis when compared to last year and the company said there continues to be strong demand for its energy saving solutions.

"Our teams continue to remain focused on our accelerated growth strategy through increasing customer intimacy, market-led innovation and reducing complexity," it said.

"These actions have allowed us to generate strong growth in the order book and revenues as well as improving margins, helping to mitigate the ongoing supply chain and inflationary pressures as well as Russian sanctions currently impacting global markets."

IMI also said on Thursday that it is in the process of divesting its Russian subsidiary to local management and this is expected to complete within the next weeks.

Based on current market conditions, the group continues to expect that 2022 full-year adjusted earnings per share will exceed 100p.

"IMI Precision and IMI Hydronic organic revenues are expected to be higher, with margins higher in IMI Precision and slightly higher in IMI Hydronic, consistent with our preliminary results announcement," it said. "IMI Critical revenue and operating margin are both expected to be in line with last year, despite the 4% revenue impact from the exit of Russia."



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IMI Market Data

Currency UK Pounds
Share Price 1,826.00p
Change Today 12.00p
% Change 0.66 %
52 Week High 1,828.51
52 Week Low 1,425.00
Volume 81,351
Shares Issued 261.47m
Market Cap £4,774.38m
RiskGrade 142

IMI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.96% below the market average94.96% below the market average94.96% below the market average94.96% below the market average94.96% below the market average
64.71% below the sector average64.71% below the sector average64.71% below the sector average64.71% below the sector average64.71% below the sector average
Price Trend
79.54% above the market average79.54% above the market average79.54% above the market average79.54% above the market average79.54% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Income
79.8% below the market average79.8% below the market average79.8% below the market average79.8% below the market average79.8% below the market average
62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average
Growth
33.19% below the market average33.19% below the market average33.19% below the market average33.19% below the market average33.19% below the market average
69.7% below the sector average69.7% below the sector average69.7% below the sector average69.7% below the sector average69.7% below the sector average

What The Brokers Say

Strong Buy 6
Buy 6
Neutral 6
Sell 0
Strong Sell 0
Total 18
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IMI Dividends

  Latest Previous
  Final Interim
Ex-Div 04-Apr-24 10-Aug-23
Paid 17-May-24 15-Sep-23
Amount 19.20p 9.10p

Trades for 28-Mar-2024

Time Volume / Share Price
11:44 2,200 @ 1,826.00p
11:43 112 @ 1,826.00p
11:43 114 @ 1,826.00p
11:43 90 @ 1,826.00p
11:43 114 @ 1,826.00p

IMI Key Personnel

CEO Roy Twite
Finance Director Daniel Shook
Chair Smith of Kelvin

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