Rotork increases its 2014 full year dividend by 4.3%

DividendMax Ltd.

Rotork increases its 2014 full year dividend by 4.3%

2014 Full Year Results

  2014 2013 % change OCC *2 % change
Revenue £594.7m £578.4m +2.8% +3.8%
Adjusted*1 operating profit £157.2m £151.4m +3.8% +5.7%
Adjusted*1 operating margin 26.4% 26.2% +20 bps +50 bps
Profit before tax £141.2m £138.0m +2.3% +8.1%
Adjusted*1 profit before tax £156.1m £150.1m +4.0% +5.9%
Basic earnings per share 119.0p 114.8p +3.7% +9.4%
Adjusted*1 basic earnings per share 131.6p 124.9p +5.4% +7.0%
Full year dividend 50.10p 48.05p +4.3%  


Key Points

Record order intake, revenue and profit

Order intake up 2.9% to £595.6m (OCC +4.0%)

Operating margin increased 20 bps to 26.4%

Sales to power market up 16%

Continued expansion of product portfolio

Three acquisitions completed in the year for £81.3m

Peter France, Chief Executive, commenting on the results, said:

"2014 was another successful year for Rotork. The continued expansion of our product portfolio, international sales channels and our broad end-market exposure enabled us to achieve record results.

In the year ahead we will continue to invest for growth, increasing our international sales network and expanding our product portfolio both organically and by acquisition to strengthen our presence in the wider flow control market.

Whilst our end markets in the upstream oil and gas sector may become more challenging in the near term, our other global markets remain active. Our geographic reach, end market exposure and diverse product portfolio provide the Board with confidence of achieving further progress in the coming year."


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