IMI PLC (IMI.LN) said Thursday that first-quarter performance continued the improved trend of 2017, albeit with uncertainty in some segments, and that current trading remains consistent with market expectations for the year.
The consensus forecast for 2018 revenue is 1.84 billion pounds ($2.50 billion), according to FactSet.
The engineering company said that excluding the impact of acquisitions, disposals and exchange rate movements, organic revenue for the three months to March 31 rose 2% on year.
On an adjusted basis, revenue increased 3% reflecting the combination of exchange rate headwinds and a maiden contribution from the acquisition of Bimba, a business acquired in January, IMI said.
The company said it expects organic revenue in the first half to be higher than in the first six months of 2017, with a modest improvement in margins.
The company said its 2018 results will be impacted by the relative strength of sterling against the euro and the dollar and, at first-quarter average rates, this would give rise to an exchange rate headwind of around 4% to both revenue and profits in the full year.
Read Again IMI revenue up; warns on forex headwinds : https://ift.tt/2KvRcysBagikan Berita Ini
0 Response to "IMI revenue up; warns on forex headwinds"
Post a Comment