Reflecting continued confidence in the Group's prospects, the Board is recommending that the interim dividend be increased by 2% to 14.9p (2018: 14.6p), which will be paid on 13 September 2019 to shareholders on the register at the close of business on 9 August 2019.
Other financial highlights include:
First half results in-line with expectations
Good cash delivery
Precision Engineering continues to be impacted by Industrial Automation weakness
Full year rationalisation charges to be c.£35m with c.£30m annualised savings
Strong order growth and robust margins in Critical Engineering
Good progress on Hydronic Engineering margin improvement
Customer at centre of immediate improvement actions
Strategic review well underway
