2014 Full Year Results
|2014||2013||% change||OCC *2 % change|
|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%|
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."