Rotork Plc has declared an interim dividend of 2.4p per share which is equivalent to 2.0 times cover based on adjusted earnings per share. The interim dividend will be payable on 23 September 2022 to shareholders on the register on 19 August 2022.
Other Financial Highlights:
Orders were up double-digit year-on-year, reflecting an encouraging performance from the Chemical, Process & Industrial and Oil & Gas divisions and price increases which were successfully implemented in January and May
The supply chain improvement initiatives are taking effect and deliveries picked up through the period. First half revenues were lower year-on-year as expected due to supply chain challenges in the first quarter
The company's Shanghai site resumed full operation in early June following the COVID-19 lockdown and made good progress delivering delayed shipments to customers
Adjusted operating profit margin remained resilient at 19.0% despite lower volumes and the phasing of price benefit due to the record order book. Statutory operating margin was 15.7%
Net cash of £90.4m (December 2021: £114.1m), lower in part due to strategic inventory build
Reaffirmed the commitment to improving ESG performance in the compnay's Sustainability Report and highlighted how the products and services can enable a sustainable future
