Highlights:
Continued growth in underlying earnings per share despite lower organic revenues
Orders up 19% in Severe Service with good margin improvement
Good progress on new product agenda
Merchandising sale process on track
Interim dividend increased by 8%
Roberto Quarta, Chairman of IMI commented:
"The Group has delivered another set of positive results with growth in profit and underlying earnings per share. In particular, Severe Service delivered a strong performance with orders up and margins showing a healthy improvement year on year. We also made good progress with our growth agenda launching several new products and continuing to improve our operational efficiency which will help drive future margin momentum.
We continue to anticipate better trading conditions in the remainder of the year. In addition we expect the Group to benefit from an improving sales mix and an increasing contribution from the recently launched new products. Overall, we remain confident that the Group will deliver good progress in 2013. Reflecting this confidence the Board has increased the interim dividend by 8%."
