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Rotork sees modest annual sales growth; weighted to second half

By BFN News | 07:29 AM | Friday 26 April, 2019


Flow control and instrumentation company Rotork said it expected to achieve 'modest' sales growth in 2019, weighted to the second half. Sales had improved gradually in the three months through March compared to the final quarter of 2018, though they had fallen on-year due to the company cycling a boost in year-ago orders in the energy sector. 'Whilst we remain mindful of macroeconomic uncertainty we continue to expect to deliver modest sales growth on an operating constant currency basis in 2019, with lower year-on-year sales in the first half reflecting the strong comparator period, and full year margins to show progress on 2018,' Rotork said. The company also said that its lean and continuous improvement rollout had started encouragingly. 'Our phased transition to a market segment orientation commences in the second quarter with China, Japan and South Korea,' it added. Story provided by StockMarketWire.com

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