LONDON (dpa-AFX) - Rotork Plc (ROR), a flow control equipment provider for industries, on Thursday, said in a trading update that it reported a rise in its order intake for the four-month period to October, following pick-up in project and environmental related activity and an increased customer demand.
However, the company expects supply chain disruptions to continue at least in the near term. Therefore, it expects second half revenue to be 'similar to the first half with adjusted operating margins slightly ahead of the first half.'
The Bath-headquartered firm reported a high single digit percentage rise in order intake for the July to October period, year-over-year, on organic constant currency (OCC) basis.
The majority of Rotork's activity continues to be driven by customers spending on automation and electrification projects as well as maintenance and refurbishment, the company said in a statement.
Amidst a tight supply of electronic, chipsets, and other related components, revenues for the four month period ended on October 31 were down on OCC basis, compared to the same period a year ago.
The company had posted a revenue of 288.3 million pounds for the first half of current fiscal, compared with 283.2 million pounds, reported for the same period of 2020. It also reported adjusted operating margin of 21.8 percent for the first six-month period of 2021 as against 21.6 percent, posted a year ago.
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