Thursday May 15, 07:39 AM
Invensys FY operating profit up 19 pct, to make further progress in new year
LONDON (Thomson Financial) - Engineering (Milan: ENG.MI - news) group Invensys Plc. posted a 19 percent increase in full-year operating profit and said it is confident of making further progress in the new financial year.
Full-year orders were down 2 percent, at constant exchange rates, to 2.03 billion pounds from 2.1 billion pounds as an improvement at Process Systems was offset by a decline at Rail Group, reflecting its uneven order intake.
Chief executive Ulf Henriksson said the global energy and infrastructure markets for Process Systems and Rail Group remain strong and are expected to continue to grow.
At Controls, the CEO expect at least to maintain its operating profit and cash flow performance despite continued softness in some of its markets.
Invensys (LSE: ISYS.L - news) did not recommend the payment of a dividend in the year to March 31.
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