The CEO stated
At Invensys Operations Management, order intake remained strong across each major region and each of our three business segments, namely control and safety, advanced applications and equipment. Excluding a large China Nuclear contract for two reactors booked in the first half of last year, order growth was 20% at constant exchange rates. Revenue growth was similar and, with maintained operating margins, profits grew strongly. Because of our broad global market exposure, we have maintained an order pipeline amounting to around £4 billion. Our second half performance is underpinned by our large order book for control and safety, where major projects are delivered over several accounting periods, and the exposure of our shorter-cycle advanced applications and equipment segments to emerging markets, which are expected to be less affected by the current uncertain macroeconomic climate.
