Final Results - Replacement

Rotork PLC
4 April 2001

The issuer advises that the Final Results announcement released at 07:00 on 22
March 2001 under RNS Number 8742A has been amended.



The payment date for the final dividend should read 29 May 2001 and not 21 May
2001 as previously stated.



All other details remain unchanged.  The full corrected version is shown
below.



                                Rotork p.l.c.

                           Preliminary Announcement



Rotork p.l.c., the international specialist engineering group, announces
audited results for the year ended 31 December 2000.






                                                          2000             1999

Turnover                                               £107.9m          £117.5m

Operating profit                                        £19.8m           £26.0m

Profit before taxation                                  £20.6m           £26.9m
 - before goodwill
amortisation                                            £21.6m           £27.8m

Earnings per share
 - basic                                                 15.6p            20.3p
 - diluted                                               15.6p            20.3p
 - basic before goodwill
amortisation                                             16.8p            21.3p

Dividend per share                                       12.2p            12.2p



Highlights of the year included:



*         Gross margin maintained near 1999 levels

*         New IQ actuator launched; well received by customers

*         Move to new US production facility completed on time and under
budget

*         Order book up 19% on previous year

*         Performance reflects reduced capital expenditure in the hydrocarbon
sector



Chief Executive, Bill Whiteley, said:



'Following a difficult eighteen months, activity in the hydrocarbon sector has
returned to more normal levels.  With the new IQII actuator now in full
production and our closing order book up nearly 20% on last year the outlook
for the current year is more promising.'



For further information, please contact:



Rotork p.l.c.                                                    Tel: 01225
733200

Bill Whiteley, Chief Executive

Bob Slater, Finance Director



Financial Dynamics                                            Tel: [phone]
3113

Tom Baldock



PRELIMINARY STATEMENT





Introduction

Lower investment in the hydrocarbon sector and consolidation within the
industry over the last eighteen months resulted in reduced levels of capital
investment and therefore contributed to lower demand for actuators and
associated products.  Over 40% of Rotork actuators are shipped to customers in
these sectors and the result of this reduced spend was that the order book at
the beginning of 2000 was lower than at the previous year-end.  Nevertheless,
gross margin in 2000 was maintained at 1999 levels underlining the quality of
our products and customer support.  In addition activity in this sector now
appears to be returning to more normal levels and I am pleased to report that
our closing order book was nearly 20% higher than at the end of the previous
year.



Operating Review

The most significant development programme undertaken to date at Rotork is now
complete and the latest version of the IQ intelligent actuator is in full
production at our Bath and Rochester facilities.  The increased functionality
obtained by utilising advanced electronic techniques is meeting with
widespread customer approval.  During the development programme the
opportunity was taken to identify lower cost overseas sources for some of the
more significant electronic and mechanical assemblies.  We intend to make
greater use of these and other low cost sources in the future to further
reduce costs across our complete product range.



The new production facility for our American operations situated in Rochester
New York was completed on schedule and under budget in May.  We took the
opportunity to introduce the modern production methods that had already been
successfully installed at our Bath plant to improve the efficiency and
capacity of this operation.  Rotork Gears are also using this facility as a
base for their expanding American operations and the resulting improved
service levels to US customers have already created further business
opportunities for these products.



Rotork Gears now contributes significantly to our profitability and this is
due in part to the successful integration of acquisitions made in recent
years.  The latest of these was the purchase in October of the business and
assets of the actuator division of Skil Controls Limited previously located in
Skelmersdale.  This business had a specialised product, which is capable of
being marketed through our existing international sales network.  Although
currently relatively small, we believe that potential exists for significant
growth.



The year saw the opening of our wholly owned company in the People's Republic
of China and business levels there to date have been encouraging.  The rest of
our Far East operations experienced a mixed year but all have had acceptable
returns and the outlook in most of these territories is now more positive than
it had been for some time.



Our Fluid Power plants in the USA and Italy are particularly dependent of oil
industry business and as a result experienced a difficult trading environment
during the year.



We have redesigned our processes in both plants and have an ambitious product
development programme.  As a result of restructuring, a new Fluid Power
management team has been put in place.  I am pleased to report that the fluid
power order book at the end of the year was higher than it has been in the
recent past and there is currently much more optimism about our prospects.



Dividend

In view of the current trading position the directors are recommending that
the dividend be held at last year's level with a final dividend of 7.8p
bringing the total for the year to 12.2p.  This will be paid on 29 May to
shareholders on the register on 30 March.



Outlook

Our strategic focus has continued to be the design, manufacture and marketing
of actuator, system and related products.  Our Product development programme
in the three main activities, Electric Actuators, Fluid System and Rotork
Gears is providing a greater breadth of solutions to customers across our
market sectors, supported by acquisition where appropriate.



Activity levels are steadily improving and our marketing companies view the
year ahead with greater confidence.  The second half of 2000 saw an
improvement in order intake into our plants, and this trend has continued into
the early part of the current year.  The introduction of our new IQ actuator
is strengthening our market position and we will build on this success with
further product developments that will incorporate its innovative concepts.
The strength of sterling, particularly against the Euro, continues to cause
difficulties for us but with some signs of favourable movement this year,
together with improvements in activity from our main customer sectors, the
outlook for the current year is more promising.





Audited Consolidated Profit and Loss Account

for the year ended 31 December 2000


                                                          Group           Group

                                                           2000            1999

                                                          £'000           £'000

Turnover
Cost of sales                                           107,880         117,535
                                                       (59,021)        (63,626)
                                                        _______          ______



Gross profit                                             48,859          53,909

Distribution costs                                      (2,286)         (2,023)
Administrative expenses                                (27,502)        (26,021)
Other operating income                                      680              95


Operating profit                                         19,751          25,960


Operating profit before
amortisation of goodwill                                 20,787          26,855
Amortisation of goodwill                                (1,036)           (895)
                                                         ______         _______
Operating profit                                         19,751          25,960


Net interest receivable and
similar items                                               831             987
                                                        _______         _______

Profit on ordinary activities
before taxation                                          20,582          26,947

Tax on profit on ordinary
activities                                              (7,110)         (9,477)


Profit for the financial year                            13,472          17,470

Dividends including non equity                         (10,504)        (10,546)

                                                        _______          ______



Retained profit for the

financial year                                            2,968           6,924

                                                        _______          ______





                                                          pence           pence

Basic earnings per share                                   15.6            20.3

Basic earnings per share before

goodwill amortisation                                      16.8            21.3

Diluted earnings per share                                 15.6            20.3






All results relate to continuing operations





Audited Balance Sheet

at 31 December 2000


                                                           Group         Group

                                                            2000          1999

                                                           £'000         £'000
Fixed assets


Intangible assets                                         18,166        19,175

Tangible assets                                           15,763        14,412

                                                          33,929        33,587

Current assets

Stocks                                                    14,553        13,790
Debtors due within one year                               32,562        27,806
Debtors due after more than one
year                                                         384           581
Cash at bank and in hand                                  16,820        25,788

                                                          64,319        67,965

Creditors:
Amounts falling due within one year                     (31,491)      (35,824)

Net current assets                                        32,828        32,141


Total assets less current liabilities                     66,757        65,728



Creditors:

Amounts falling due after more
than one year                                            (1,011)       (1,758)

Provisions for liabilities and

charges                                                  (3,293)       (4,221)

                                                          ______        ______
Net assets                                                62,453        59,749

                                                           =====         =====

Rotork shareholders' funds

Equity                                                    62,394        59,690

Non-equity                                                    59            59

                                                         _______       _______

Capital employed                                          62,453        59,749

                                                           =====         =====




Note:

The financial information set out above does not constitute the company's
statutory accounts for the years ended 31 December 2000 or 1999.  The
financial information for 1999 is derived from the statutory accounts for 1999
which have been delivered to the Registrar of Companies.  The auditors have
reported on the 1999 and 2000 accounts; their reports were unqualified and did
not contain a statement under section 237 (2) or (3) of the Companies Act
1985.  The statutory accounts for 2000 will be delivered to the Registrar of
Companies following the company's annual general meeting.







Audited Statement of Group Cash Flow

for the year ended 31 December 2000


                                                         Group           Group

                                                          2000            1999

                                                         £'000           £'000


Operating profit                                        19,751          25,960

Depreciation and amortisation                            2,995           2,758

Profit on sale of fixed assets                           (101)               -

Movement in working capital                            (6,236)         (2,772)

                                                        ______          ______

Net cash inflow from operating

activities                                              16,409          25,946


Returns on investments and

servicing of finance                                       863             894


Taxation                                               (8,539)        (10,268)


Capital expenditure                                    (3,057)         (2,497)



Acquisitions and disposals                               (394)        (14,893)



Dividends paid on equity

ordinary shares                                       (10,543)         (9,817)



Financing                                              (1,615)             903

                                                       _______          ______

Decrease in cash and term

deposits in the period                                 (6,876)         (9,732)

                                                        ======           =====