Invensys posts £77m pre-tax profit
Tech company confident of delivering improved full-year performance
By CFOWorld.co.uk staff | CFO UK | Published 15:11, 15 November 12
Technology company Invensys has posted a pre-tax profit of £77 million in the six months to September end, up from £73 million over the corresponding period last year.
In a data release on Thursday, the software, information and automated process control solutions provider said that its underlying earnings per share rose 10 percent to 7.6p from 6.9p a year earlier, largely as a result of reduced restructuring costs.
Revenue was down 2 percent on a constant exchange rate (CER) basis to £1.2 billion from £1.24 billion in the first six months of the previous financial year.
Order intake was £1.044 billion, down 2 percent at CER from £1.09 billion over the same period last year, mainly due to the timing of orders at its Invensys Operations Management and Invensys Controls subsidiaries.
Chief Executive Wayne Edmunds said Invensys Operations Management had continued to perform well with growth in revenue and operating margins.
However, Invensys Rail got off to a slow start to the year due to timing of orders from Network Rail and other timing issues. Invensys Controls was affected by weaker economies in the US and Europe, Edmunds added.
"Looking ahead, subject to any significant changes to the global macro-economic environment, our good first half performance and strong order book supports our view that we will improve our performance for the year as a whole," he concluded.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
The financial impact of rising energy bills is a headache for companies toomore ..
Customers' personal information accidentally shared amongst the email chainmore ..
Digital services roster may be 'opened up' to new entrants at regular intervalsmore ..
Both publications won the highly coveted Public Service awardmore ..
In the final of a three-part series, we look at the potential for companies to become victims in the battle for big datamore ..
In the second of a three-part series, Pat Brans looks at the ethics of collecting 'big data'more ..