LONDON (dpa-AFX) - Specialist engineering company IMI Plc. (IMI.L) reported that its third quarter organic revenue was 1% higher than the same period last year. Statutory revenue in the quarter was 3% lower than last year, reflecting the foreign currency movements seen in the period.
The company continues to expect good organic growth in 2024, having delivered a resilient performance in the third quarter.
The company continues to expect that full year adjusted basic earnings per share will be between 120 pence - 126 pence, despite seeing some additional foreign exchange headwinds. This guidance represents another year of around 10% adjusted organic operating profit growth.
The company said its complexity reduction initiatives remain on track to deliver 15 million pounds of incremental benefits for the full year and 7 million pounds in 2025.
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