Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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IMI PLC (IMI)

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Friday 17 December, 2004

IMI PLC

Trading Statement

IMI PLC
17 December 2004


                                                                17 December 2004

                                    IMI plc

                                 Trading Update

In accordance with its normal practice, IMI plc is today issuing a trading
update in advance of its preliminary results announcement for the twelve months
ending 31 December 2004, due to be published on 7 March 2005.

We expect that reported profit before tax and rationalisation costs will be
around £158-£160m. Rationalisation costs are expected to be around £5m leaving
profit before tax and goodwill amortisation, at £153m-£155m, some 12-13% ahead
of last year's £136.9m.

As indicated earlier in the year, the net impact of higher raw material prices
and the translation impact of currency movements, is likely to have reduced
operating profit by around £17m. On a constant currency basis, the expected
profit before tax and goodwill amortisation would be 18-20% ahead of last year.

Cash generation remains strong and borrowings are expected to be lower than at
December 2003.

In September, the European Commission announced the imposition of a fine of
€44.98m on IMI in connection with its former copper tube business sold in 2002.
Pending the outcome of our intended appeal, the full amount of the fine will be
provided in our Financial Statements at 31 December 2004 as an exceptional item.
It is anticipated the fine will be paid in February 2005. The situation
regarding the copper plumbing fittings enquiry is unchanged and it is unlikely
that any decision on this case will be made before the second half of 2005.

Current trading

In general, the economic climate for our end markets remains positive in the US
and Asia, and to a lesser extent, the UK, while mainland Western Europe remains
subdued. Volumes overall for the year are expected to be around 4% higher than
last year with the second half improvement slower than the first half partly as
a result of the pull-forward referred to in the interim results announcement.

Fluid Controls

Order intake in our Severe Service business continues to be strong, still
running at some 10% ahead of 2003, with the Asian markets in particular
progressing well. Shipments for the second half are on track reversing the
shortfall in the first half, leaving volumes for the year as a whole ahead of
last year. Fluid Power has continued to benefit from both a strong US
performance and our success in the targeted sectors where growth for the year
will be above 15%. However, European markets remain patchy. With the benefits of
the reduced cost base coming through, results are expected to be significantly
ahead of last year. In Indoor Climate, volumes and orders to date are similar to
2003. Achieving growth in mainland Europe remains challenging but we are
encouraged by our successes outside our traditional markets, particularly
Eastern Europe. Higher selling prices in the second half and lower operating
costs have contributed to margins remaining healthy despite raw material cost
increases.

Retail Dispense

In Beverage Dispense, despite a recent slowdown with one of our major soft
drinks customers, volumes in the US remain encouraging with the food service
sector continuing to improve. Volumes of beer dispense equipment, particularly
in the UK, will be lower than expected for the year showing a marked decline
from a very good 2003. The rest of Europe is still showing modest growth.
Operational improvements continue to benefit margins and despite raw material
cost inflation, results overall will be ahead of last year. In our Merchandising
Systems business, organic growth for the year is expected to be around 3%,
building on the 10% growth achieved in 2003. This is a reflection of the timing
of completion of larger contracts which is increasingly becoming a substantial
part of this business. Artform is on track to produce a good full year's
contribution.

Building Products

Sales in Polypipe for the year will be ahead of last year although at a lower
rate of growth than in the first half of the year. Margins are still being
impacted by high raw material costs although this has been partly mitigated in
the second half by price increases already implemented. Further price increases
will take effect in early 2005. Trading results for Polypipe for the year will
however be lower than last year.

2004 will be another year of improvement for the Group and although we are
cautious about the current macro-economic outlook, particularly in Europe with
recent economic indicators pointing to a further weakening, we remain confident
that our businesses will continue to make progress.

Non-executive Director appointment

We are pleased to announce that Lance Browne has been appointed to the Board as
a non-executive director with effect from 1 January 2005. Mr Browne, aged 55, is
non-executive Chairman of Standard Chartered Bank's Chinese operations, of which
he was chief executive between 1996 and 2001, and has held a range of senior
positions in banking and engineering businesses. A British national, he is
resident in Shanghai and has been made an Honorary Citizen of Shanghai and
received a CBE for his work in China. His experience will be particularly
valuable as IMI builds its presence in the area. This appointment is the first
step in strengthening the presence of the independent non-executive directors
and he will be joining the Audit, Remuneration and Nominations Committees.

                                    - Ends -

For further information contact:

IMI plc
Graham Truscott, Communications Director                      Tel: 0121 717 3712

Weber Shandwick Square Mile
Nick Oborne/ Stephanie Badjonat                               Tel: 020 7067 0700

Information about IMI plc can be found on the website: www.imiplc.com

Note to editors:

IMI plc is a dynamic international engineering business specialising in
innovative solutions and services for a wide range of industrial and retail
customers. Its future growth is being built on the two business areas of Fluid
Controls and Retail Dispense.

IMI's operations in these two business areas share the following core
characteristics: strong market positions in growing markets; the ability to be
clearly differentiated from their competitors through technological innovation
or after-sales service; and the provision of 'added value' through bespoke
solutions rather than a high manufacturing or material content.

IMI is quoted on the London Stock Exchange and is capitalised at approximately
£1.3bn.





                      This information is provided by RNS
            The company news service from the London Stock Exchange