Well it seems that ISYS is waiting for news...maybe it's round the corner !

SSA leads chase to buy Baan

2 May 2003 SSA Global Technologies will shortly conclude the purchase of Invensys' Baan software subsidiary, according to mounting rumours circulating in the City of London.

The revitalised enterprise resource planning (ERP) software vendor SSA GT is set to conclude a deal within weeks for Baan — and for radically less than the $708 million that Invensys, the troubled engineering conglomerate, paid for it in 2000.

SSA GT is awash with cash after raising $75 million from venture capital group General Atlantic Partners just last month. CEO Mike Greenough's plans to make SSA GT a $400 million company by July 2003 are well known. It even retains a head of acquisitions to research potential opportunities.

Both Baan and SSA GT were once top five ERP software vendors.

In April 2002, SSA bought the Interbiz ERP division of Computer Associates, but its revenues still run far short of Greenough's target. In the second fiscal quarter to the end of January 2003, the company posted revenues of $64 million, up 55% on the same period a year earlier.

System Software Associates (SSA) was one of the stars of the early enterprise resource planning (ERP) software sector, but sales collapsed dramatically in the mid-1990s following the botched introduction of new product.

Called BPCS 6, the package was bug-ridden and, before those bugs had been ironed out, the company tried to force users into upgrading. That led to a fall in sales and a crisis of confidence from which it never recovered.

It filed for Chapter 11 bankruptcy protection in 2000 and the assets were purchased by Gores Technology Group in July of that year. In May 2001, another venture capital investor, Cerberus, took a majority stake in the company.

http://www.infoconomy.com/pages/news-and-gossip/group78868.adp

Great news;

Baan has been sold !

http://www.timesonline.co.uk/article/0,,5-701388,00.html

--------------------------------------------------------------------------------
Invensys engineers a late recovery

Neil Hume
Friday June 13, 2003
The Guardian

Every dog has its day and yesterday was the turn of Invensys, the indebted engineering group.
Late in the day, its shares raced up 3.75p, or 18.75%, to 23.75p - the best performance in the FTSE 250 - as details of presentations given to City institutions and hedge funds seeped into the market.

While Invensys did not comment on current trading those present at the meetings left with the distinct impression that business has not deteriorated since last month's poorly received full-year figures and that the proceeds of the company's massive disposal programme will be enough to wipe out its 1.6bn debt.

Invensys started that process this month with the sale of its Dutch software arm, Baan, to two venture capitalists for $135m (80m).

Invensys warns of looming cash blow

JIM STANTON DEPUTY BUSINESS EDITOR


TROUBLED engineering group Invensys has warned that it could run out of money by June if its disposal programme fails.

It also warned that it might need "additional sources of working capital".

But it said that it was "very confident" of staving off a cash crisis and meeting its June debt repayment liabilities of 515 million, and insisted that its disposal programme was on track.

The company has been looking to sell off a number of non-core operations after the economic downturn hit spending in markets such as building, software and telecoms.

Overall net debt at the group rose in the year to March 31 to 1.6 billion from 1.56bn at the same stage in the previous year.

Last week, chief executive Richard Haythornthwaite failed to quell institutional investors fears over the London-based groups disposal programme, prompting brokers to wipe out a quarter of the companys value.

At the time, Mr Haythornthwaite said he no longer expected proceeds from the disposal plan to "substantially" exceed his target of 1.8 billion. This target had previously been as high as 2.4bn.

That added to the gloom prompted by last months half-year profit announcement, which came in at the bottom end of expectations.

The latest warning that the firm could be facing a cash crisis came in a company circular from chairman Martin Jay in which he admitted Invensys may be unable to meet Junes deadline for repayments due then on its growing debt pile should the groups programme of asset sales fail.

A spokeswoman for the group, which has rail signalling and control operations in Glasgow, said the cash warning was part of a document relating to the recent sale of its metering business.

She added that it was no different from what the firm had been saying since it announced its disposal programme in April.

"Were very confident [of meeting the June debt repayment] because weve got several other businesses . . . out of the traps and in discussions with potential buyers," the spokeswoman said.

She added: "Invensys has been completely transparent about its liabilities before. Nothing has changed. Everybody knows that the disposal programme is to reduce its debt."

Invensys, whose shares have fallen from a high of 388p in 1998 to less than 20p at present, said in October it had agreed to sell its metering unit to a private equity-backed group for 650m.

The spokeswoman said its appliance controls, climate controls and powerware divisions were also up for sale.

She added that the company "would be very surprised if most of them hadnt gone by next June".

Analysts said it was well known Invensys would run out of money by June if its disposal programme failed, but that the latest admission was a reminder the deadline was approaching.

One trader said: "They [Invensys] ought to be able to do it. But progress hasnt exactly been breathtaking so far."

NEWS

Morley Fund Management no longer have notifiable interests.
This means they sold some/all of their shares

Howevever,they did not exit before so it is not very bad --- in my opinion
rgds aj

Oversold !

NEWS
E.G.M.Result.rgds aj

Prospects not looking good. Company need to raise more cash to pay off bank debt in June. Recent sales have not yielded the cash they expected, any upcoming sales may be done below market because of the need to repay this debt in June.

Keep selling to 14p is my advice, the debt is not going away until they sell a few more assets and they may find it a bit difficult.

Sorry but I think that the bottom has been called. Anyone selling to 14p will be mad !

My Prayer Mat is Facing East :-(

Bought 30k worth this morning @17.25 and hoping for a 2p gain

which should bring a modest profit........famous last words!

If ISYS can off load various parts of thier operations at break

even point which should please bankers and investor alike.

I am in for the very short term!!

Good luck to all!!

Jeff

UPDATE 1-Invensys rights issue imminent - dealers
Fri 30 January, 2004 18:03
RELATED REPORTS
ISYS.L Profile Report





By Louise Heavens

LONDON, Jan 30 (Reuters) - Shares in debt-laden UK engineer Invensys Plc ISYS.L ended over eight percent up on Friday amid talk the firm was close to launching a rights issue on terms far less dilutive to earnings than originally feared, dealers said.

Invensys, which is selling off non-core businesses to cut debt and strengthen its balance sheet, declined to comment on the market talk, which propelled its stock to its highest close in nearly two weeks.

The shares, which rose in the last 30 minutes of trading, closed 1-3/4 pence higher at 22 pence, valuing the company at around 770 million pounds ($1.4 billion).

Just three months ago Invensys said when it cut its estimate of the proceeds it expected from its asset disposals that it was exploring alternative financing in banking and capital markets.

The company said the refinancing options would depend on trading performance, market conditions, the success of its asset sales and the status of legacy liabilities such as pensions.

Dealers said the market talk was that the firm would offer investors one new share for every existing share, compared with talk of a two-for-one rights issue less than two weeks ago that had sparked a sell-off in the company's shares at the time.

A rights issue, though earnings diluting, could bolster the balance sheet and take some of the immediate pressure off the company's asset disposal programme, traders said.

"They'd get a better price for their subsidiaries," said one trader, who asked not to be named.

Dealers reported a wide price range of between 10-18 pence a share for the offer.

Investment bank Dresdner Kleinwort Wasserstein said in a research note earlier this month that a rights issue would be an "extremely sensible move" for Invensys, and upgraded the stock to "buy" from "reduce".

"A rights issue would give the company breathing space to complete the disposal programme and position the company for a long expected takeover by Siemens SIEGn.DE ," analysts at the bank wrote in the note.

Dresdner said it believed Invensys could issue 3.3 billion new shares at 15 pence a share. (Additional reporting by Chris Slocombe and Daniel Morrissey)

Invensys secures 2.7bn refinancing
Debt rescheduling and share issue ends need for sell-offs and puts group on firmer footing
By Saeed Shah
06 February 2004


Rick Haythornthwaite can for the first time run Invensys as a business, rather than just fight for its survival. The engineering giant was a mess long before Mr Haythornthwaite got there. He was put in place in 2001 to try to make the company work. It couldn't. However, a 2.7bn refinancing announced yesterday puts Invensys on a secure footing at last.

Mr Haythornthwaite, 47, came in with a reputation riding high as a something of a City wonder-boy, after he put up a much-applauded defence against a hostile bid as chief executive of Blue Circle. But the seemingly permanent crisis that is Invensys soon threatened to sink him.

After grappling with debt, the economic downturn, a pension black hole and forced disposals, he could finally sit back yesterday with some breathing space.

The refinancing package announced yesterday was so comprehensive that Invensys was able to call off most of its disposal programme. Appliance Control and Climate Controls, two big and well-regarded businesses that were put up for sale last April as part of a 2bn disposal programme, were taken off the market.

A placing and open offer will raise 450m, while a further 625m will come from a high-yield bond issue and there is a new five-year bank facility of 1.6bn.

This is a major turnaround from the situation the company faced in November, when it admitted that its disposal programme was not going well and that it might need to come up with alternatives. The company had been facing a 515m debt repayment in June and it was not likely to have the money.

Mr Haythornthwaite admits that he cannot be said to have been pursuing anything approaching "a strategy" at Invensys. So far, at least. "When I came in, the company had already been read the last rites. Then things got worse," he says.

"I did find some good businesses but it was a struggle with the financial issues rather than tackling the operational side.... It was not a way to run a business."

Invensys was formed in 1999 by the merger of Siebe and BTR. The dysfunctional resulting company was made up of dozens of unrelated engineering businesses, from manufacturing controls for factory conveyor belts to railway signals. It was led by the pugnacious Allen Yurko.

However, as a capital goods manufacturer, the newly merged company was entirely dependent on the state of the economy. Economic conditions soon faltered, cutting income to the point at which it could not handle its debt pile.

What followed was a painful series of profit warnings and repeated lay-offs of staff. Mr Yurko quit.

Mr Haythornthwaite brought in a considerably more charming approach, but the mode of the company remained one of fire-fighting. Divestments followed. However, by April last year the company was still drowning in debt and plans for further 2bn worth of disposals were announced. Invensys did manage to sell metering systems last year for 390m but this was far less than expected.

By November last year, things were not looking good. The liquidity crisis was spooking customers. Potential buyers of businesses knew that Invensys was desperate and were exploiting the situation. Total liabilities were estimated at 2.3bn. The company admitted it needed a plan B.

Mr Haythornthwaite then toured the City, meeting shareholders and, as he says, "the conversation turned to 'what if'". The outline of a rescue plan that investors would support began to come together.

The rise in Invensys shares in recent days, with a further 12 per cent jump yesterday to 26.5p, was testament to the relief felt in the City. Strong and well-sourced rumours of a rights issue, which have been circulating in the Square Mile for more than two weeks, had very helpfully been pushing up the share price anyway.

The placing announced was at 21.5p a relatively small discount of 9.5 per cent to the closing share price on Wednesday: not bad for a rescue refinancing. The package comes at a cost of 108m, meaning a bonanza for the City advisers involved led by Cazenove, Deutsche Bank and Morgan Stanley.

Mr Haythornthwaite now has five years' money in place. The shares offer is fully under-written. Current trading is not brilliant but is "satisfactory". Appliance Controls and Climate controls are to be retained. "Now, for the first time, we can tackle things from the front foot," he says.

Analysts point out that Invensys does not offer massive earnings growth potential as its businesses were performing reasonably debt was the issue. And Mr Haythornthwaite will admit that the six main businesses he has today do not go together naturally. There is no guarantee that the company will not still be ultimately broken up. But at least Mr Haythornthwaite now has a chance to actually run the company, develop a strategy and ride the economic recovery.

from http://uk.biz.yahoo.com/040923/237/f363x.html

*Gossips believe Invensys (LSE: ISYS.L - news - msgs) has received a very preliminary takeover approach from Siemens

don't hold your breath!

This another example of British businessmen not having the skills to move with the times.
Taking on Debt is plain madness unless it's covered by orders and some fall-back position should the customer fold. It never ceases to amaze me that Directors win whatever they do.
When the employees are made redundant it's the country that has to carry them and their dependants - we should send the directors to jail so they can't wreck other businesses - and it would have a terific effect on concentration in the Boardrooms in the UK.
"No nodding off at the back! Snoggins, just what was that investment plan?"

This is like Corus a year ago. Can we see 56p this year?

hightech
I think you could be right I hold these and its nice to see them ticking up a bit at a time, no rush.

Invensys is back on its foot.

will the sp follow????

Out of the woods on tip toe "Holding"

The sp will follow.

Are you sure that it won't go down to 11p???

Any reason for the fall?

Does anyone know their cash position?
Are we looking into a void of impossible dimensions?
Is there any value within their operations - or are we witnessing a Marconi where Management is blisfully buying duds to complete their set of Directorships?
/
It's a shame companies are not subject to instant inspection, rather like the VAT-man can pounce......except in large companies he rarely does because the accounts are in two offices in separate towns.......Grr.
/
I've held a small position in this co but I think we can forget ever getting back to 50p let alone a ten-bagger to 1.20 - and to think some folk bought this over 3.50 = wasn't that a truely magical time, eh?

http://uk.biz.yahoo.com/050509/183/fidrt.html

London Underground to Use Wonderware Industrial Application Server Built on ArchestrA Technology to Equip 150 Rail Stations with an Advanced Station M
By Business Wire

......
The $21.5-million contract between Thales and Atkins Rail will leverage the Wonderware Industrial Application Server, which offers the simplicity of a component object-based approach to application development. The Wonderware Industrial Application Server is built on Invensys (LSE: ISYS.L - news - msgs) ' groundbreaking ArchestrA industrial automation and information software architecture, which enables the creation of objects and reuse of engineering and configuration. The ArchestrA objects can be easily shared throughout the rail enterprise. ....

Results tomorrow.

The 13 day average has breached 30 day average yesterday so the short term
outlook looks positive. Anyone any comment ??? p/271

Better opportunities else where, leave alone.

Nop. here is better

I don't like volatile stocks, nor blue-sky - the first needs too much screen-gazing and the second falls to earth when the Directors have lathered themselves with Options at our expense.
ISYS is employing top-notch execs to turn the business from a dog into something worthy of its turnover. The PE ratio tell it all - just negative and close to unity. If these execs could not see this as advancement they'd not bother to come on-board - it could affect their career chances..........so if you think there is recovery possible (I do) then at 13p there is plenty of up-side - they were trading close to 25p for a long time until further news knocked them down, so I think any more recovery will show a profit. This company is supported by institutions - that bought at MUCH higher prices, so they could be looking at break-up to recover their cash........either way the current sp is too low - Provided the execs are really earning their salaries and at the AGM it would seem that is likely to be so.
(There is a pension-pot problem but that is common to many large co's and I understand it is much-improved although not solved.) A further concern is the method of incorporating Proxy votes at the agm. A "show-of-hands" is open and difficult to fudge, whereas adding proxy votes really means they don't need an agm ..... this is something the FSA needs to stamp on IMHO, as it could lead to fraud....if widely used.
This stock is ISA-able - not many multi-baggers like that, are there?

Personally, I believe we will look back in few months time and see what a bargain ISYS was at 13p (or lower) ! DYOR

OUTLOOK Invensys set to report modest Q2 results amid tough trading conditions
AFX


LONDON (AFX) - Invensys PLC, the UK electronics and engineering group, is expected to continue to show a continued recovery in its second quarter and half-year results Thursday amid tough trading conditions and after an extensive restructuring.

The London-based company now comprises five divisions, including Rail Systems, Appliance Controls and Process Systems, which serves the booming oil sector.

According to Deutsche Bank most divisions are expected to show progress, although Appliance Controls has had 'embattled' customers demanding price cuts.

The analysts' consensus forecast is for operating profit from retained businesses of 49 mln stg for the second quarter, unchanged from the same period a year earlier. For the half year operating profit is seen at 81 mln stg, compared to 67 mln in the same period a year earlier.

In its first quarter results Invensys announced an 82 pct rise in operating profit, slightly ahead of expectations, and a narrowing of its pretax loss to 24 mln stg from 69 mln in the same period a year earlier.

nick.huber@afxnews.com

nh/cml

analyser - looks like you were right, and its not taking a few months.

Look at the increase during the last week - fabulous. There are quite a few sells now at 16.25p so may be towards the peak for a while. I'm staying put though for the long term and 20p by Christmas

Another 7 per cent rise today.

24p to come soon IMO

Jumped on board @17.50,looks like this could really start going up to a realyty pricing,Recovery on its way? HEAVy buying

This has been stormimg ahead from 13p, since the 13th of Nov.

jimmy b,lets hope it continues,all the way to?

It looks like it may struggle to get over 20p ,there are bound to be profit takers who were in early , however if it does whoopee ..:-)

Have you ever seen it being traded so heavily? ... 50 million in the first 95 minutes..... Almost all trades above 19.25, many at 19.75p.
I supposed it was cheap when I bought at 21p!

Back to where it started , it's going to struggle to cross that 20p barrier.

check the volume... 126M tooooo high to ignore

Meaning ??

ISYS UP some 20% over last four days

Time to take a look

Next ashtead in the making?

I had a look and I am back on board.

Driver.
I know its volatile,but its breaking out.

GOOD LUCK

After 25p it will be a safe buy. It may still fall to 20p.

AHOJ

Would you mind explaining why you think that @25p

Really interested and always learning,is that from the charts that you have reached this conclusion?
Many thx

yep plus gut feeling etc. 25p has been tested many times. But it should move another 15% to get there. You may like to take the risk and buy now. All IMHO .... DYOR etc. Can you share your views?

AHOJ,
I bought @18 sold @19.75

In yesterday again @20.25 BUt will stay with it,i have a feeling this is going to do an ASHTEAD over the next couple of years.Remember aht? i thought i did well buying @2 selling @67 NOW 2 ish

stay with it,if the pension deficit gets sorted out and i believe it will,as all companies are on the bandwagon,i think it will easily hit 30 short term. But i am staying with this one unless there is any BAD news of course by the time we get to hear about it,its usually too late anyway!

Good luck

LONDON (AFX) - Shares in Invensys PLC extended recent gains in late
morning
trade as Dresdner Kleinwort Wasserstein upgraded the stock to 'hold' from
'reduce', raising its price target to 21 pence from 5, dealers said.
In a report to clients, Dresdner highlighted its optimistic outlook for the
sector in 2006. Dresdner thinks G7 GDP growth should step up and noted US peer
order trends are showing an acceleration and key end markets (oil and
gas/mining) will increase capex growth in 2006.
In Dresdner's view, these sector trends should benefit Invensys this year,
noting that Invensys has good exposure to the oil and gas end market through
its
Foxboro business.
Despite the upgrade, Dresdner stressed that its main concerns over the
quality of the business remain, in particular the company's exposure to the US
consumer through its appliance controls business, which also has tough
competition from low cost competitors in China.
Moreover, Dresdner cautioned that Invensys' balance sheet position is
still
stretched with net debt of 690 mln stg and a pension deficit of 540 mln stg.
Earlier this week Standard & Poor's raised its outlook to 'stable' on
Invensys, having had a negative stance for several years.
At 10.56 am, shares in Invensys were up 1 penny, or 4.7 pct, at 22, while
the FTSE 250 was 18.5 points higher at 8,946.5.
newsdesk@afxnews.com

bright future ahead of it, so stick wit it

This is good news
Standard Life Investments have increased their holding by 340 million +
http://moneyam.uk-wire.com/cgi-bin/articles/200601161455479894W.html

Up 5% @close fri,Seems to be holding steady @21p level,still off its recent high 23p,
Where to now,Holding and hoping,any thoughts driver would be most appreciated good or bad.

capetown
I'm holding but don't know why or even why I bought, now on the back burner till they hit 100p one day.

That will be one hell of a day!!
Hope you are right

Chart looks good heading up slowly but surely.

Interseting that it closed up,with markets down,and more sells than buys

Interesting ,to early to spell !!

Up she goes,nice and slow

And up she goes again

Small article in shares today,
technicall analysis sugests short term move to 40pence

Fill ya boots

capetown
Thanks for that and a new Finance Director can't be bad.

this baby should wake up soon. We need an update.

ahoj
is there a trading update due out soon?
was very tempted to top up today but not confident enough !,did you see the article in shares magazine?

capetown
Was the article in shares magazine positive.

driver,it was positive in that it was a technical annalysis,looking at the trend and it suggested target 40pence,with a stop loss of 15pence
hope this helps

See Shares 19 Jan p49, key date is 23rd Feb for third-quarter results. Picked more up in early trade this morning at 20.47p - nice move forward today, keep buying!

capetown
Cheers.

Capetown,
Very high activity in oil industry should help Invensys. I was expecting this to happen when I bought a year ago at 22p. I'm hoping for a fast recovery this year.

Same here mr ahoj,
My average is 20.50
if the chartists are right we have 40p to look forward to.

RNS,standard life uped their interest to over 10%
Lets see if we get through the 22p barrier this week
trading update next week

when next week?

23RD feb ,heading towards breaking 22 we hope

cape
I'm stil holding and waiting.

DRIVER,
Same here
Lets hope its good news on 23rd.

46 million buys
19 million sells another good day

http://charts.moneyam.com/Chart.aspx?

25p is crucial. It's going to move fast after 25p. IMO

AHOJ,looks like its breaking out.we have touched 22.75

good luck to all holders

Now its down over 5% this morning. Any ideas where we go from here?

Its very dissapointing,twice as many buys to sells and the price is stck inbetweem 20/22,long term for me its a definate HOLD

Lets hope ISYS is on the up from now,its managed to stay above the 19 pence level and recovered some 6.5% from its recent lows,massive volume fri 138MILLION traded,Hope its breaking out towards that new 30pence range.

Good luck to all holders,lets see if this can do an ASHTEAD!!

At last its moving,up 10% last two trading days

Moneyman are you still in on these?

I wonder if there was any truth in last thursdays evening standard of takeover rumour?

100 million shares traded by 10am this morning!!!!.where is everone holding this stock.
Exciting times ahead?

Now 24.50,
Breaking new highs nice and slow up you go

Any reason for the crash?

Hopefully it is thr trend over the last few days ftse being down,all other info i ive
come accross has been positive,fingers crossed.

If oil companies are getting rich, INVENSYS should get richer IMO.

ahoj,seems to be picking up again nice and slow back to its high of 26.50 lets hope

The morning should be interesting!

very nervous,wonder which way it will go will the sale and 250mil dollars towards books?

think i will stay in bed

They are proposing a rights issue but unfortunattly dont know the exact details of the issue

the rights issue is 2 shares for every 5 held @15p each hope this is some use to others

I think all the shorters will have to buy back 40% more than that they shorted, if they don't close before the right issue.
Am I right?

It happenned to Autonomey- Right when it issued shares (2 to 1) it moved it from 230 to 500p. If that calculation was right, this one should move 40% IMO

Some may close earlier, but many of them will miss IMO.

I thiink majority of shorters start to lose after 25p. They will certainly gain if it falls below 15p.

for most "rights issues" the sp moves down to the offer-price, 15p in this case - I don't know if this is the market moving or the Brokers making hay - however, in this instance ISYS appears to be holding firm; what explanation is there, anyone?
I hold these from lower, so thought I'd sell and Buy-back, but it looks like this won't work - and I'd lose the Rights also.
IC says sell the rights into the market - why?
Fortunately I can add to my holding and this price looks attractive, as the sp has stood-firm above 20p for some while, with new mamagement working slowly/surely.

35% of the loan (243 million) is paid back early. See http://moneyam.uk-wire.com/cgi-bin/articles/200607180700293332G.html

The rest (75%) should be only 452m. Can they pay dividend if continue to perform so well?

picked up some of these last week as they seem oversold-with the T/o rumours and much more interest they seem worth holding for a while.

Maybe something good will come, but I read that S.HAre is to be Financial Director...what a brave fellow hired him...he of ex-Marconi fame - Oh you forgot? Well Marconi had a lot of money in the Bank and paid wages to many thousands of employees and pensioners...they had factories in a dozen cities I understand. Then The new boys took over and spent it all - not on fast cars, mistresses which would be understandable ...no they spent the lot on building a large telecom business at the time when almost anyone with a length of wire was a phone business. They overpaid for businesses that had no market and the whole thing collapsed, throwing folk out of work up and down the land...misery for communities as well as families and pensiones were shreaded I understand....hopfully the guys who thought this up (or said nowt),will never work again (like some ex-employees!)..indeed if they were to sell matches at London Bridge, as a wholesaler you should ask for cash up-front...

BUT ISYS has better plans - having raised enough money to rid itself of a half a Big Debt...it will re-engineer its shares to make then appear more attractive - so currently 17p will become - by Magic a new 1.70.

Pity Marconi didnt discover that trick! they could have paid for the new businesses with dodgy value paper and still kept most of their cash.

Personally I do npot like share density manipulation - it serves no real purpose and if/when the business recovers we'll be paying the same "Advisers" to bring the shares back.

goog news almost everyday. Now, Invensys should update on its contracts.

Its been very quiet on this thread for sometime,
Still holding and we have seen a steady climb since consolidation from 169 to currently 192,
MENTION in shares yesterday,
ONE time trading @ equivelant 38.50 a share ,dramatic fall to 91pence,its seems there is light at the end of the tunnel,although the sp has been volatile, the CHARTIST suggests its a buy @202 with a stop loss175,

TARGET 293 PENCE.

NOW 283 PENCE

Great recovery and also still on an upward trend

It has a history of of falling from 500 to 100p in a couple of days. Can it reverse if shorters forced to close?

I think this will settle at around 300 pence,untill further news of sustained recovery

This baby has been quiet for too long.
Any news?

ISYS has now creeped up to 300p mark,where to next?,tempted to get out now as entry point was 18p and 20p,if i sell they will rocket to 350p 35 pre consolidation,need the money to cover losses on other dogs!

Any holders offer any advice,thx

I sold and regretted it as I think the company has turned around-figures due in Feb hence the steady creep. If they are good IMO there will be the same recovery in sp as in the Cookson situation. I'm strongly tempted to buy in again----on the other hand a profit is always worth taking if you have other uses for the money!!

moneyplus,thx and DONT!!

Be happy with your profit

moneyplus,thx and DONT!!

Be happy with your profit

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Invensys PLC
08 February 2007


INVENSYS PLC
2006/07 THIRD QUARTER RESULTS
FOR THE THREE MONTHS ENDED 31 DECEMBER 2006
Operational improvements demonstrate continued progress

Q3 Highlights

Orders from continuing operations (1) were 630 million (Q3 2005/06: 658
million), unchanged at constant exchange rates (CER)
Revenue from continuing operations was 637 million (Q3 2005/06: 611
million), up 10% at CER
Operating profit (2) from continuing operations was 56 million (Q3 2005/
06: 46 million), up 29% at CER
Operating margin (2) for continuing operations was 8.8% (Q3 2005/06: 7.5%)
Net profit was 42 million (Q3 2005/06: 3 million loss)
Basic earnings per share from continuing operations were 4.0 pence
(Q3 2005/06: 0.8 pence loss per share)
Operating cash inflow from continuing operations excluding legacy items was
56 million (Q3 2005/06: 64 million)
Free cash inflow excluding legacy items was 43 million (Q3 2005/06:
47 million)
Net debt at 31 December 2006 was 249 million (30 September 2006: 291
million)

Ulf Henriksson, Chief Executive Officer of Invensys plc, commented:

'I am pleased that we have made further overall progress in the
third quarter which has enabled us to report another good set of
results.

'Process Systems produced another strong performance. Rail Systems showed good
revenue growth although order intake was impacted by the phasing of Network Rail
project bookings in the UK. Controls produced another satisfactory result
despite the weakness in those businesses supplying the US new residential
construction market and I am encouraged that APV produced a profit for a fourth
consecutive quarter.

'Financing charges were significantly reduced due to the benefits of the 2006
Refinancing (3), resulting in a net profit in the quarter of 42 million
compared with a small loss in the third quarter last year. Operating cash flow,
although lower than last year, was strong at 56 million representing 100%
conversion.

'With the improved performance in the period and continued progress in achieving
a balance of results between quarters, the Board remains confident of a
satisfactory outturn for the financial year as a whole.'

Contact
Invensys plc Steve Devany tel: +44 (0) 20 7821 3758
Peter Niklewicz tel: +44 (0) 20 7821 2121
Maitland Emma Burdett/Suzanne Bartch tel: +44 (0) 20 7379 5151

Notes
1. Continuing operations are Controls, Process Systems, Rail Systems, APV and
Eurotherm. Discontinued operations in 2006/07 comprise Invensys Building
Systems operations in the US and Asia Pacific (IBS) and, in addition, ABS
EMEA, Lambda and Baker in 2005/06.

2. All references to operating profit (OPBIT) and operating margin in this
announcement are before exceptional items.

3. Definitions used in the Prospectus dated 25 May 2006 shall have the same
meanings when used in this announcement, unless the context requires
otherwise.


Conference call
1. Ulf Henriksson, CEO, and Steve Hare, CFO, will be hosting a conference call
for analysts and fund managers at 8.00 am London time this morning:

UK: +44 (0)20 7138 0808
US: +1 718 354 1158
No passcode is required

The conference call will be audio webcast live with slides, which can be
accessed by following the link at the following address:


http://www.invensys.com/isys/


A recording will be available at this address shortly after the completion of
the call.

2. This announcement and the presentation materials for the conference call are
also available at
http://www.invensys.com/isys/


Safe Harbor
This announcement contains certain statements that are forward-looking. These
statements involve risk and uncertainty because they relate to events and depend
on circumstances that will occur in the future. Forward-looking statements are
not guarantees of future performance. The Group's actual results of operations,
financial condition and liquidity, and the development of the industries in
which the Group operates, may differ materially from those made in or suggested
by these statements and a number of factors could cause the results and
developments to differ materially from those expressed or implied by these
forward-looking statements.


Overview of results

Operating Operating
Orders received Revenue profit/(loss) Operating margin cash flow (1)
Quarter m m m % m
Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3
2006/07 2005/06 2006/07 2005/06 2006/07 2005/06 2006/07 2005/06 2006/07 2005/06

Controls 166 198 179 200 15 15 8.4% 7.5% 25 18
Process Systems 218 200 200 183 28 22 14.0% 12.0% 14 17
Rail Systems 112 133 131 103 18 18 13.7% 17.5% 27 29
APV 106 99 100 96 2 (4) 2.0% (4.2)% 1 3
Eurotherm 28 28 27 29 2 3 7.4% 10.3% 2 2
Corporate - - - - (9) (8) - - (13) (5)
Continuing operations 630 658 637 611 56 46 8.8% 7.5% 56 64

(1) Excluding legacy items. Operating cash flow from discontinued operations was
nil (Q3 2005/06: 3 million inflow).

Operating Operating
Orders received Revenue profit/(loss) Operating margin cash flow (1)
9 months m m m % m
9M 9M 9M 9M 9M 9M 9M 9M 9M 9M
2006/07 2005/06 2006/07 2005/06 2006/07 2005/06 2006/07 2005/06 2006/07 2005/06

Controls 550 592 551 583 43 45 7.8% 7.7% 23 37
Process Systems 628 565 563 522 71 51 12.6% 9.8% 39 27
Rail Systems 397 373 379 302 57 41 15.0% 13.6% 115 66
APV 339 323 295 281 10 (2) 3.4% (0.7)% (5) -
Eurotherm 83 87 80 87 8 10 10.0% 11.5% 9 8
Corporate - - - - (27) (25) - - (37) (23)
Continuing operations 1,997 1,940 1,868 1,775 162 120 8.7% 6.8% 144 115

(1) Excluding legacy items. Operating cash flow from discontinued operations was
an inflow of 3 million (9M 2005/06: 18 million).

Orders
Orders received in the quarter for continuing operations were unchanged at CER
at 630 million (Q3 2005/06: 658 million). Orders at Process Systems were up
15% at CER. Controls' reported orders were down 11% at CER but were down 6%
after adjusting for the previously announced loss of the EDF contract at IMServ
and the disposal of small contracting businesses. Rail Systems' order intake was
impacted by the phasing of Network Rail project bookings. A summary of orders
and movements at CER by business is set out below:

For the quarter ended
31 December Q3 Q3 Q3
2005/06 2005/06 Change at 2006/07 Change
Orders Exchange at CER CER Orders at CER (1)
m m m m m %
Controls 198 (10) 188 (22) 166 (11)%
Process Systems 200 (10) 190 28 218 15%
Rail Systems 133 (4) 129 (17) 112 (13)%
APV 99 (6) 93 13 106 14%
Eurotherm 28 (1) 27 1 28 1%
Continuing operations 658 (31) 627 3 630 -%

(1) % Change is calculated based on underlying amounts in '000s.

The order book for continuing operations was 2,038 million at 31 December 2006
compared to 2,073 million at 30 September 2006, representing no change at CER.

Revenue
Revenue in the quarter was 637 million (Q3 2005/06: 611 million), an increase
of 10% at CER. The Group has operations around the world and as a result has a
significant exposure to movements in foreign exchange rates and in particular to
the US dollar and euro. The translation effect of foreign exchange rates during
the quarter was a decrease in revenue of 31 million or 5%. A summary of revenue
and movements at CER by business is set out below:

For the quarter ended
31 December Q3 Q3 Q3
2005/06 2005/06 Change at 2006/07 Change
Revenue Exchange at CER CER Revenue at CER (1)
m m m m m %
Controls 200 (11) 189 (10) 179 (6)%
Process Systems 183 (10) 173 27 200 16%
Rail Systems 103 (4) 99 32 131 33%
APV 96 (5) 91 9 100 9%
Eurotherm 29 (1) 28 (1) 27 (5)%
Continuing operations 611 (31) 580 57 637 10%

(1) % Change is calculated based on underlying amounts in '000s.

Operating profit and margin
Operating profit before exceptional items was 56 million in the quarter (Q3
2005/06: 46 million), which represents an increase of 29% at CER. The
translation effect of foreign exchange rates during the quarter was a decrease
in operating profit before exceptional items of 1 million. Operating margin was
8.8% (Q3 2005/06: 7.5%); the lower margin in Q3 at Rail Systems was due to
normal differences in business mix. A summary of operating profit and movements
at CER by business is set out below:

For the quarter ended
31 December Q3 Q3 Q3
2005/06 2005/06 Change at 2006/07 Change
OPBIT Exchange at CER CER OPBIT at CER (1)
m m m m m %
Controls 15 - 15 - 15 -%
Process Systems 22 (1) 21 7 28 38%
Rail Systems 18 - 18 - 18 6%
APV (4) - (4) 6 2 n/a
Eurotherm 3 - 3 (1) 2 (25)%
Corporate (8) - (8) (1) (9) (24)%
Continuing operations 46 (1) 45 11 56 29%

(1) % Change is calculated based on underlying amounts in '000s.

Exceptional items
Exceptional items for continuing operations in the quarter were a net nil (Q3
2005/06: 12 million charge). This included restructuring costs of 1 million
(Q3 2005/06: 9 million) and a gain on the sale of other financial assets of 1
million (Q3 2005/06: nil). The prior year also included a 1 million charge to
property, plant and equipment impairment and a 2 million loss on sale of
operations.

Foreign exchange gains and losses
Foreign exchange gains in the quarter of 12 million (Q3 2005/06: 5 million
loss) relate to exchange differences arising on the translation of unhedged
foreign currency monetary items used in the financing of the Group and its
subsidiaries. These are principally attributable to exchange differences on the
Group's non-sterling denominated currency borrowings held in companies whose
functional currency is sterling. Of the exchange gains, 8 million arose on US
dollar borrowings and 4 million arose on euro borrowings.

The Group's hedging policy is determined by reference to the currency of the
underlying cash generation, ensuring, as far as possible, an economic hedge.
This results in an unhedged position under IAS 21.

Finance costs
Net finance costs in the quarter decreased to 12 million (Q3 2005/06: 30
million) reflecting the benefits of the 2006 Refinancing. In addition,
exceptional finance costs of 12 million arose on the partial redemption of the
principal amount of $180 million of High Yield Notes in November 2006,
comprising a 9 million premium paid on redemption and a 3 million write-off of
capitalised facility fees.

Taxation
The taxation charge for the quarter was 7 million (Q3 2005/06: 1 million)
based on an allocation of the estimated taxation charge for the full year.

Profit from discontinued operations
The profit from discontinued operations in the quarter comprises a taxation
credit of 9 million following the resolution of certain taxation issues in
Brazil and the US.

Net profit
The net profit for the quarter was 42 million (Q3 2005/06: 3 million loss),
after charging 12 million relating to the November 2006 High Yield Notes
redemption and after crediting a foreign exchange gain of 12 million.

Basic earnings per share
Basic earnings per share from continuing operations in the quarter were 4.0
pence (Q3 2005/06: 0.8 pence loss per share), calculated using the weighted
average number of shares in issue during the quarter of 796 million shares (Q3
2005/06: 609 million shares) and the profit after taxation and minority
interests for continuing operations of 32 million (Q3 2005/06: 5 million
loss).

Cash flow
Operating cash flow from continuing operations excluding legacy items in the
quarter was an inflow of 56 million (Q3 2005/06: 64 million), representing
cash conversion of 100% (Q3 2005/06: 139%). Free cash flow excluding legacy
items was an inflow of 43 million (Q3 2005/06: 47 million), after payment of
cash costs of 9 million relating to the partial redemption of High Yield
Notes in November 2006. Net debt at 31 December 2006 was 249 million (30
September 2006: 291 million).

Outlook
With the improved performance in the period and continued progress in achieving
a balance of results between quarters, the Board remains confident of a
satisfactory outturn for the financial year as a whole.


Controls
For the quarter ended 31 December 2006 Q3 2006/07 Q3 2005/06 % change % total
at CER change

Orders received (m) 166 198 (11)% (16)%
Revenue (m) 179 200 (6)% (11)%
Operating profit (m) 15 15 -% -%
Operating margin (%) 8.4% 7.5% - -
Operating cashflow (m) 25 18 41% 39%
Employees at period end (numbers) 13,085 13,903 - (6)%

For the 9 months ended 31 December 2006 9M 9M % change % total
2006/07 2005/06 at CER change

Orders received (m) 550 592 (5)% (7)%
Revenue (m) 551 583 (4)% (5)%
Operating profit (m) 43 45 (3)% (4)%
Operating margin (%) 7.8% 7.7% - -
Operating cashflow (m) 23 37 (36)% (38)%

Developments
During the quarter, Controls continued to improve operational efficiency in
terms of delivery performance and product quality. The North American businesses
supplying smoke and carbon monoxide alarms and thermostats continue to be
impacted by the slowdown in the US new residential construction market. Markets
outside North America remained generally favourable. New product launches are
being well received by customers. Further selective price increases were
implemented across many product groups during the period and additional pricing
actions are planned in the final quarter.

Performance
In the quarter, reported orders of 166 million (Q3 2005/06: 198 million) were
down 11% at CER but were down 6% after adjusting for the previously announced
loss of the EDF contract at IMServ and the disposal of small contracting
businesses; this shortfall arose in North America due mainly to the slowdown in
the new residential construction market. Reported revenue of 179 million (Q3
2005/06: 200 million) was down 6% at CER but was up 1% after the above
adjustments, reflecting the benefit of price rises and new product launches
offset by the reduced revenue in the businesses supplying the US new residential
construction market.

Operating margin rose to 8.4% from 7.5% in the prior year mainly due to the
success of the continuing restructuring programme and the disposal of low margin
contracting businesses. Operating profit was 15 million in line with the
corresponding quarter last year. Operating cash inflow of 25 million (Q3 2005/
06: 18 million) was up by 41% at CER with a significant reduction in working
capital driven by improved receivables and reductions in inventory.

In the nine months, orders were down 5% at CER at 550 million (9M 2005/06: 592
million) but were up 3% after adjusting for the above contract loss and
disposals. Revenue was 4% lower at CER at 551 million (9M 2005/06: 583
million) but was up 4% after these adjustments. Operating profit fell to 43
million (9M 2005/06: 45 million), a decrease of 3% at CER but an improvement of
13% after the above adjustments. Operating margin improved slightly to 7.8% (9M
2005/06: 7.7%). Operating cash inflow was 23 million (9M 2005/06: 37 million)
which was similar to last year after adjusting for the above contract loss and
disposals.


Process Systems
For the quarter ended 31 December 2006 Q3 2006/07 Q3 2005/06 % change % total
at CER change

Orders received (m) 218 200 15% 9%
Revenue (m) 200 183 16% 9%
Operating profit (m) 28 22 38% 27%
Operating margin (%) 14.0% 12.0% - -
Operating cashflow (m) 14 17 (19)% (18)%
Employees at period end (numbers) 7,081 6,723 - 5%

For the 9 months ended 31 December 2006 9M 9M % change % total
2006/07 2005/06 at CER change

Orders received (m) 628 565 13% 11%
Revenue (m) 563 522 10% 8%
Operating profit (m) 71 51 43% 39%
Operating margin (%) 12.6% 9.8% - -
Operating cashflow (m) 39 27 47% 44%

Developments
Process Systems had another good quarter reflecting the continuing strong end
markets, particularly oil and gas and power generation, and the benefits of its
recent investment in technology and sales and marketing. Regional market growth
continues in Asia, and the Middle East has seen a recent increase in projected
capital spending driven by the continued high oil price. Orders from the seven
global key accounts were up 9% in the quarter and 24% in the nine months.

InFusionTM, the recently launched enterprise control system that enables the
integration of all plant floor systems with an enterprise's business information
systems, continues to attract considerable interest from customers and gained
several significant contract wins in the quarter from, for example, Bechtel in
the US, AGIP KCO in Kazakhstan, Ratnagiri Gas and Power in India and the Tuketo
Power Plant in China.

At the December North American customer conference attended by nearly 600
customer participants, product enhancements were launched to the TriconexTM
safety system and the AvantisTM asset management system.

In January 2007, Paulett Eberhart joined the group as CEO and President of
Invensys Process Systems. Paulett was previously with EDS, the global technology
services company, which she joined in 1978. She held a number of senior roles
within EDS, latterly as President of its largest operating unit, the Americas,
which had revenues in excess of $8 billion.

Performance
Orders for the quarter rose 15% at CER to 218 million (Q3 2005/06: 200
million) with particularly strong growth in Asia Pacific where orders grew by
45% at CER driven primarily by China, ASEAN and South Korea.

Revenue increased by 16% at CER to 200 million (Q3 2005/06: 183 million) with
strong growth seen in all regions driven primarily by strong backlog conversion.
Revenue in Asia Pacific was up 42% at CER due to the execution of several major
projects in ASEAN and South Korea. North America was up 12% at CER attributable
to both project backlog conversion and an increase in Foxboro DCS (distributed
controls systems) upgrade orders within its customer service business.

Operating profit rose 38% at CER to 28 million (Q3 2005/06: 22 million). The
operating margin improved significantly to 14.0% (Q3 2005/06: 12.0%). The
increase in operating margin was driven by two primary factors, namely
incremental margin realised on higher factory shipments within the products
businesses and higher volumes and margin improvements in both the Asia Pacific
and EMEA regions. An operating cash inflow of 14 million was generated (Q3 2005
/06:17 million). The reduction in cash conversion is mainly due to the timing
of receipts on a number of long term contracts.

For the nine months, orders rose to 628 million (9M 2005/06: 565 million), up
13% at CER, with strong growth seen in all regions. In particular, Asia Pacific
orders grew by 37% at CER driven primarily by the Reliance expansion project in
Jamnagar, India, as well as growth in ASEAN on several large projects. Revenue
for the nine months of 563 million (9M 2005/06: 522 million) increased by 10%
at CER driven by Asia Pacific. Operating profit rose to 71 million (9M 2005/06:
51 million), a 43% increase at CER. The operating margin improved significantly
to 12.6% (9M 2005/06: 9.8%). An operating cash inflow of 39 million was
generated (9M 2005/06: 27 million), primarily attributable to the higher
operating profit.

Rail Systems
For the quarter ended 31 December 2006 Q3 2006/07 Q3 2005/06 % change % total
at CER change

Orders received (m) 112 133 (13)% (16)%
Revenue (m) 131 103 33% 27%
Operating profit (m) 18 18 6% -%
Operating margin (%) 13.7% 17.5% - -
Operating cashflow (m) 27 29 (6)% (7)%
Employees at period end (numbers) 3,074 2,828 - 9%

For the 9 months ended 31 December 2006 9M 9M % change % total
2006/07 2005/06 at CER change

Orders received (m) 397 373 7% 6%
Revenue (m) 379 302 27% 25%
Operating profit (m) 57 41 40% 39%
Operating margin (%) 15.0% 13.6% - -
Operating cashflow (m) 115 66 73% 74%

Developments
Rail Systems had a satisfactory quarter with good revenue growth. Markets have
remained generally favourable although its US business has not yet seen the
expected increase in orders for rail crossings following the signing of the
Transportation Bill due to customers continuing to focus investment into
capacity enhancements.

Performance
Orders for the quarter fell to 112 million (Q3 2005/06: 133 million), down 13%
at CER. UK orders were impacted by delays in finalising contracts with Network
Rail but all other businesses recorded increased orders compared with the
corresponding period last year.

Revenue of 131 million (Q3 2005/06: 103 million) was 33% higher at CER,
primarily due to improved levels of activity in the UK. Revenue also increased
in Spain and Australia reflecting the recent improvement in orders.

Operating profit was 18 million (Q3 2005/06: 18 million), translating into an
increase of 6% at CER reflecting the improvement in revenue offset by a normal
change in business mix. Operating margin was 13.7% (Q3 2005/06: 17.5%) bringing
year to date margins to 15.0%. Cash generation remained strong with an operating
cash inflow of 27 million (Q3 2005/06: 29 million), with conversion of
operating profit to operating cash in excess of 100% in both periods.

Orders for the nine months rose to 397 million (9M 2005/06: 373 million), up
7% at CER, driven by strong orders in Spain and Australia. The nine month
book-to-bill was 105% despite delayed contract awards in the UK. Revenue of 379
million (9M 2005/06: 302 million) was 27% higher at CER with all businesses
showing revenue growth, in particular from mainline and transit activities in
the UK and Spain.

In the nine months, operating profit rose to 57 million (9M 2005/06: 41
million), an increase of 40% at CER reflecting the significant increase in
revenue. The operating margin improved to 15.0% (9M 2005/06: 13.6%) benefiting
from higher revenue and an improved sales mix. An operating cash inflow of 115
million was generated (9M 2005/06: 66 million). Cash flow remains strong with
the year on year improvement driven by improved operating profit, strong
receipts on long term contracts and effective management of inventories and
receivables.


APV
For the quarter ended 31 December 2006 Q3 2006/07 Q3 2005/06 % change % total
at CER change

Orders received (m) 106 99 14% 7%
Revenue (m) 100 96 9% 4%
Operating profit/(loss) (m) 2 (4) n/a n/a
Operating margin (%) 2.0% (4.2)% - -
Operating cashflow (m) 1 3 (33)% (67)%
Employees at period end (numbers) 2,895 2,705 - 7%

For the 9 months ended 31 December 2006 9M 9M % change % total
2006/07 2005/06 at CER change

Orders received (m) 339 323 7% 5%
Revenue (m) 295 281 7% 5%
Operating profit/(loss) (m) 10 (2) n/a n/a
Operating margin (%) 3.4% (0.7)% - -
Operating cashflow (m) (5) - n/a n/a

Developments
APV had another satisfactory quarter as it benefited from continued efforts to
improve performance. Product, spares and services (PSS) revenue continues to
grow as a proportion of its total business and the project business is now
achieving a consistent improvement in performance. During the quarter, an
additional production facility was opened in Poland.

The pricing and shortage of certain raw materials continues to constrain APV. In
particular, the shortage of titanium has slowed what otherwise would have been a
strong growth in orders for industrial plate heat exchangers. Discussions with
suppliers have been progressing with additional supplies secured, enabling APV
to accept new customer orders in the quarter. Further investment has been made
in a new plate component that will open up a new sector of the industrial market
for APV as well as providing more efficient usage of titanium.

Performance
Orders for the quarter rose to 106 million (Q3 2005/06: 99 million), up 14% at
CER, driven by large project wins in North America and Europe; this has been
partially offset by lower PSS orders driven by the titanium shortage. Revenue of
100 million (Q3 2005/06: 96 million) was 9% higher at CER, primarily due to
good growth in PSS revenue in both industrial and non-industrial sectors and
project revenue growth in Europe, North America and China.

Operating profit rose to 2 million (Q3 2005/06: 4 million loss). This was
driven by the growth in PSS revenue, improvement in executed project margins and
strong factory pull through. The operating margin improved to 2.0% (Q3 2005/06:
(4.2)%) predominantly due to better project execution. An operating cash inflow
of 1 million was generated, compared to 3 million in Q3 2005/06.

In the nine months, orders rose to 339 million (9M 2005/06: 323 million), up
7% at CER and revenue was also 7% higher at CER at 295 million (9M 2005/06:
281 million). Operating profit rose to 10 million (9M 2005/06: 2 million
loss) and the operating margin improved to 3.4% (9M 2005/06: (0.7)%). An
operating cash outflow of 5 million was generated, compared to breakeven last
year.


Eurotherm
For the quarter ended 31 December 2006 Q3 2006/07 Q3 2005/06 % change % total
at CER change

Orders received (m) 28 28 1% -%
Revenue (m) 27 29 (5)% (7)%
Operating profit (m) 2 3 (25)% (33)%
Operating margin (%) 7.4% 10.3% - -
Operating cashflow (m) 2 2 6% -%
Employees at period end (numbers) 1,122 1,140 - (2)%

For the 9 months ended 31 December 2006 9M 9M % change % total
2006/07 2005/06 at CER change

Orders received (m) 83 87 (4)% (5)%
Revenue (m) 80 87 (7)% (8)%
Operating profit (m) 8 10 (18)% (20)%
Operating margin (%) 10.0% 11.5% - -
Operating cashflow (m) 9 8 9% 13%

Developments
Eurotherm continues to reshape its business model aimed at capturing market
growth and reducing its cost base. In the quarter, the first shipments of
product from its new Polish facility were made with further transfers of product
ranges scheduled to follow over the coming months. Negotiations are also taking
place with suppliers regarding transferring part of current manufacturing into
the supply chain.

Performance
Orders for the quarter were unchanged at 28 million (Q3 2005/06: 28 million)
but rose 9% at CER after taking into account the loss of the motor drives
distribution agreement in Q3 2005/06. Revenue of 27 million (Q3 2005/06: 29
million) was 5% lower at CER, primarily due to the decline in motor drives
revenue compared to the prior year.

Operating profit fell to 2 million (Q3 2005/06: 3 million). The operating
margin fell to 7.4% (Q3 2005/06: 10.3%). Both declines were predominantly caused
by the lost overall contribution caused by the reduced motor drives revenue. An
operating cash inflow of 2 million was generated in the quarter, which was in
line with the cash inflow of 2 million in Q3 2005/06.

Orders for the nine months fell to 83 million (9M 2005/06: 87 million), down
4% at CER but rose by 5% at CER taking into account the loss of the motor drives
distribution agreement. Revenue of 80 million (9M 2005/06: 87 million) was 7%
lower at CER, primarily due to a 9 million reduction in motor drives revenue.
Operating profit fell to 8 million (9M 2005/06: 10 million), a decrease of 18%
at CER and operating margin fell to 10.0% (9M 2005/06: 11.5%). An operating cash
inflow of 9 million was generated, compared to 8 million in the same period
last year.


Consolidated income statement (unaudited)
For the quarter ended 31 December 2006

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
Notes m m m m
----------- ----------- ----------- -----------

Continuing operations

Revenue 1 637 611 1,868 1,775
Operating expenses before
exceptional items (581) (565) (1,706) (1,655)
----------- ----------- ----------- -----------
Operating profit before
exceptional items 1 56 46 162 120

Exceptional items 3 - (12) (15) (34)
----------- ----------- ----------- -----------
Operating profit 2 56 34 147 86
Foreign exchange gains/(losses) 4 12 (5) 39 (26)
Exceptional finance costs (12) - (67) -
Finance costs (14) (37) (68) (115)
Finance income 2 7 13 21
Other finance charges - IAS 19 (4) (2) (8) (5)
----------- ----------- ----------- -----------
Profit/(loss) before taxation 40 (3) 56 (39)
Taxation - overseas (7) (1) (16) (12)
----------- ----------- ----------- -----------
Profit/(loss)from continuing
operations 33 (4) 40 (51)

Profit from discontinued
operations 5 9 1 133 61
----------- ----------- ----------- -----------
Net profit/(loss)for the period 42 (3) 173 10
----------- ----------- ----------- -----------
Attributable to:
Equity holders of the parent 41 (4) 172 7
Minority interests 1 1 1 3
----------- ----------- ----------- -----------
42 (3) 173 10
----------- ----------- ----------- -----------
Earnings/(loss) per share
Continuing operations
Earnings/(loss) per share (basic) 7 4.0 p (0.8)p 5.5 P (8.4)p
Earnings/(loss) per share (diluted) 7 3.9 p (0.8)p 5.3 p (8.3)p

Discontinued operations
Earnings per share (basic) 7 1.2 p 0.1 p 18.6 p 9.5 p
Earnings per share (diluted) 7 1.1 p 0.2 p 18.2 p 9.4 p


Consolidated balance sheet (unaudited)
As at 31 December 2006

31 December 31 December 31 March
2006 2005 2006
Notes m m m
----------- ----------- -----------
ASSETS

Non-current assets
Property, plant and equipment 312 377 348
Intangible assets - goodwill 206 230 222
Intangible assets - other 82 82 81
Deferred income tax assets 8 10 8
Amounts due from contract customers 7 5 7
Other receivables 37 32 34
Other financial assets 16 12 18
Pension asset 5 - 42
----------- ----------- -----------
673 748 760
----------- ----------- -----------
Current assets
Inventories 224 238 212
Amounts due from contract customers 197 145 161
Trade and other receivables 592 608 583
Cash and cash equivalents 222 614 450
Current income tax receivable 2 - 4
Derivative financial instruments 4 6 4
----------- ----------- -----------
1,241 1,611 1,414
Assets held for sale 8 4 23 54
----------- ----------- -----------
TOTAL ASSETS 1,918 2,382 2,228
----------- ----------- -----------
LIABILITIES

Non-current liabilities
Borrowings (469) (1,281) (1,191)
Provisions (69) (85) (98)
Deferred income tax liabilities (12) (20) (17)
Amounts due to contract customers (38) (24) (26)
Other payables (18) (19) (13)
Pension liability (581) (610) (531)
----------- ----------- -----------
(1,187) (2,039) (1,876)
----------- ----------- -----------
Current liabilities
Trade and other payables (575) (587) (600)
Amounts due to contract customers (234) (147) (148)
Borrowings (2) (6) (11)
Derivative financial instruments (1) (2) (2)
Current income tax payable (48) (66) (62)
Provisions (90) (106) (97)
----------- ----------- -----------
(950) (914) (920)
Liabilities held for sale 8 - (19) (25)
----------- ----------- -----------
TOTAL LIABILITIES (2,137) (2,972) (2,821)
----------- ----------- -----------
NET LIABILITIES (219) (590) (593)
----------- ----------- -----------
EQUITY

Equity attributable to equity
holders of the parent
Equity share capital 80 57 57
Other reserves 4,156 3,876 3,881
Retained earnings (4,516) (4,588) (4,597)
----------- ----------- -----------
Equity holders of the parent (280) (655) (659)
Minority interests 61 65 66
----------- ----------- -----------
TOTAL EQUITY 9 (219) (590) (593)
----------- ----------- -----------

Consolidated cash flow statement (unaudited)
For the quarter ended 31 December 2006

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
Notes m m m m
----------- ----------- ----------- -----------
Operating activities

Operating profit:
Continuing operations 2 56 34 147 86
Discontinued operations 5 - 1 4 16
Depreciation of property,
plant and equipment 13 14 39 42
Amortisation of intangible
assets - other 3 4 10 11
Provision for impairment
charged to operating profit - 1 - 7
(Gain)/loss on sale of assets
and operations 3 (1) 2 (4) 6
Sale of property, plant and
equipment - - 4 1
Sale of subsidiaries - 3 6 2
Non-cash charge for share-based
payment 4 2 7 4
(Increase)/decrease in inventories (4) 1 (31) (19)
(Increase)/decrease in receivables (51) 1 (57) (15)
Increase in net amounts due to
contract customers 19 21 64 63
Increase/(decrease) in payables
and provisions 29 (1) (14) (55)
Movement in pensions 3 (4) 7 (30)
----------- ----------- ----------- -----------
Cash generated from operations 71 79 182 119
Income taxes paid (10) (7) (18) (18)
Interest paid (1) (21) (70) (86)
Exceptional finance costs (9) - (38) -
----------- ----------- ----------- -----------
Cash flows from operating
activities 51 51 56 15
----------- ----------- ----------- -----------
Investing activities

Interest received 1 6 14 19
Purchase of property, plant
and equipment (11) (11) (35) (31)
Expenditure on intangible
assets - other (3) (5) (14) (18)
Purchase of subsidiaries - - - (1)
Sale of financial assets 3 - 3 -
Sale of subsidiaries (4) (3) 146 211
Net cash disposed of on sale of
subsidiaries - (2) (2) (23)
Purchase of minority interests (1) - (1) -
Dividends paid to minority
interests (1) (1) (2) (4)
----------- ----------- ----------- -----------
Cash flows from investing
activities (16) (16) 109 153
----------- ----------- ----------- -----------
Financing activities
Issue of ordinary share capital - - 342 -
Share issue expenses - - (19) -
Facility fees capitalised - - (19) -
Increase in long-term borrowings - - 155 22
Repayment of short-term borrowings - - - (24)
Repayment of long-term borrowings (94) (99) (831) (211)
Capital element of finance lease
repayments - - (1) (3)
----------- ----------- ----------- -----------
Cash flows from financing activities (94) (99) (373) (216)
----------- ----------- ----------- -----------

Net decrease in cash and cash
equivalents (59) (64) (208) (48)

Cash and cash equivalents at
beginning of period 287 673 450 638
Net foreign exchange difference (6) 5 (20) 24
----------- ----------- ----------- -----------
Cash and cash equivalents at end
of period 222 614 222 614
----------- ----------- ----------- -----------

Consolidated statement of recognised income and expense (unaudited)
For the quarter ended 31 December 2006

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
m m m m
----------- ----------- ----------- -----------

Gains on revaluation of available-for-sale
investments:
Transferred to income statement for
the period (1) - (1) -
Gains on cash flow hedges:
Gains taken to equity 1 - 1 2
Transferred to income statement for
the period (1) - (3) (2)
Exchange differences on translation of
foreign operations (11) (1) (27) 3
Foreign exchange gains transferred on
disposal of operations - - (1) (1)
Actuarial loss recognised on defined
benefit pension schemes - - (96) (64)
----------- ----------- ----------- -----------
Net expense recognised directly in
equity (12) (1) (127) (62)
Net profit/(loss)for the period 42 (3) 173 10
----------- ----------- ----------- -----------
Total recognised income/(expense)
for the period 30 (4) 46 (52)
----------- ----------- ----------- -----------
Attributable to:
Equity holders of the parent 30 (6) 49 (58)
Minority interests - 2 (3) 6
----------- ----------- ----------- -----------
30 (4) 46 (52)
----------- ----------- ----------- -----------

Notes (unaudited)
1 Segmental analysis


Quarter ended Quarter ended Quarter ended Quarter ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005

Operating Operating
Revenue Revenue profit/(loss)* profit/(loss)*
m m m m
----------- ----------- ----------- -----------
Business
Controls 179 200 15 15
Process Systems 200 183 28 22
Rail Systems 131 103 18 18
APV 100 96 2 (4)
Eurotherm 27 29 2 3
Corporate - - (9) (8)
----------- ----------- ----------- -----------
Continuing operations 637 611 56 46
----------- ----------- ----------- -----------

Geographical analysis by origin
United Kingdom 103 77 10 7
Rest of Europe 182 179 19 23
North America 219 236 23 16
South America 28 28 4 4
Asia Pacific 82 75 7 4
Africa and Middle East 23 16 2 -
Corporate - - (9) (8)
----------- ----------- ----------- -----------
Continuing operations 637 611 56 46
----------- ----------- ----------- -----------

Geographical analysis of revenue by destination
United Kingdom 92 71
Rest of Europe 194 179
North America 197 223
South America 30 31
Asia Pacific 91 81
Africa and Middle East 33 26
----------- -----------
Continuing operations 637 611
----------- -----------

Geographical analysis of discontinued operations by origin
United Kingdom - 7 - -
Rest of Europe - - - -
North America - 19 - 2
South America - - - -
Asia Pacific - 1 - -
Africa and Middle East - - - -
----------- ----------- ----------- -----------
Discontinued operations - 27 - 2
----------- ----------- ----------- -----------
* Before exceptional items.

1 Segmental analysis continued

9 mths ended 9 mths ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005

Operating Operating
Revenue Revenue profit/(loss)* profit/(loss)*

m m m m
----------- ----------- ----------- -----------
Business
Controls 551 583 43 45
Process Systems 563 522 71 51
Rail Systems 379 302 57 41
APV 295 281 10 (2)
Eurotherm 80 87 8 10
Corporate - - (27) (25)
----------- ----------- ----------- -----------
Continuing operations 1,868 1,775 162 120
----------- ----------- ----------- -----------

Geographical analysis by origin
United Kingdom 266 222 30 20
Rest of Europe 526 507 45 46
North America 686 698 76 56
South America 80 75 7 9
Asia Pacific 252 226 26 12
Africa and Middle East 58 47 5 2
Corporate - - (27) (25)
----------- ----------- ----------- -----------
Continuing operations 1,868 1,775 162 120
----------- ----------- ----------- -----------

Geographical analysis of revenue by destination
United Kingdom 244 206
Rest of Europe 535 510
North America 637 660
South America 86 83
Asia Pacific 274 245
Africa and Middle East 92 71
----------- -----------
Continuing operations 1,868 1,775
----------- -----------

Geographical analysis of discontinued operations by origin
United Kingdom - 43 - (1)
Rest of Europe - 28 - 3
North America 22 73 4 8
South America - - - -
Asia Pacific 2 73 - 7
Africa and Middle East - 4 - -
----------- ----------- ----------- -----------
Discontinued operations 24 221 4 17
----------- ----------- ----------- -----------
* Before exceptional items.


2 Operating profit
Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
m m m m
----------- ----------- ----------- -----------
Revenue 637 611 1,868 1,775
Cost of sales (462) (441) (1,357) (1,299)
----------- ----------- ----------- -----------
Gross profit 175 170 511 476
Distribution costs (3) (5) (9) (13)
Administrative costs before
exceptional items (116) (119) (340) (343)
----------- ----------- ----------- -----------
Operating profit before
exceptional items 56 46 162 120
Exceptional items (note 3) - (12) (15) (34)
----------- ----------- ----------- -----------
Operating profit 56 34 147 86
----------- ----------- ----------- -----------

Segmental analysis of operating profit:

Business
Controls 16 14 47 36
Process Systems 28 18 70 41
Rail Systems 18 18 57 41
APV 1 (11) 9 (14)
Eurotherm 2 3 8 10
Corporate (9) (8) (44) (28)
----------- ----------- ----------- -----------
Operating profit 56 34 147 86
----------- ----------- ----------- -----------

3 Exceptional items

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
m m m m
----------- ----------- ----------- -----------
Restructuring costs (1) (9) (7) (21)
Impairment: property, plant and
equipment - (1) - (7)
Other exceptional items - - (12) -
Gain/(loss) on sale of assets
and operations 1 (2) 4 (6)
----------- ----------- ----------- -----------
Exceptional items - (12) (15) (34)
----------- ----------- ----------- -----------
Restructuring costs by business:

Controls - - (3) (5)
Process Systems - (2) (1) (5)
APV (1) (7) (3) (11)
----------- ----------- ----------- -----------
(1) (9) (7) (21)
----------- ----------- ----------- -----------

4 Foreign exchange gains/(losses)

Foreign exchange gains in the quarter of 12 million (Q3 2005/06: losses of 5
million) relate to exchange differences arising on the translation of unhedged
foreign currency monetary items used in the financing of the Group and its
subsidiaries. These are principally attributable to exchange differences on the
Group's non-sterling denominated currency borrowings held in companies whose
functional currency is sterling.

Of the exchange gains in the quarter, 8 million arose on dollar borrowings and
4 million arose on euro borrowings.

These foreign currency borrowings are held as an economic hedge by reference to
the Group's underlying cash generation by currency. However, they are not
accounted for as net investment hedges under IAS 39 and consequently exchange
differences arising on these borrowings are recorded in the income statement.


5 Profit from discontinued operations

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
m m m m
----------- ----------- ----------- -----------
Profit from discontinued operations
comprises the following:

Revenue - 27 24 221
Operating expenses before exceptional
items - (25) (20) (204)
----------- ----------- ----------- -----------
Operating profit before exceptional
items - 2 4 17
Exceptional items - (1) - (1)
----------- ----------- ----------- -----------
Operating profit - 1 4 16
----------- ----------- ----------- -----------
Profit on assets divested - - 126 132
Charge of associated goodwill - - (7) (91)
Settlements and curtailments
credit - IAS 19 - - - 5
Foreign exchange gain transferred
on disposal of operations - - 1 1
----------- ----------- ----------- -----------
Profit on disposal of operations - - 120 47
----------- ----------- ----------- -----------
Profit before tax on discontinued
operations - 1 124 63

Taxation 9 - 9 (2)
----------- ----------- ----------- -----------
Profit from discontinued operations 9 1 133 61
----------- ----------- ----------- -----------

The profit from discontinued operations in the quarter comprises a taxation
credit of 9 million following the resolution of certain taxation issues in
Brazil and the US.


6 Reconciliation of cash flows from operating activities to free cash flow
excluding legacy items

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
m m m m
----------- ----------- ----------- -----------

Cash flows from operating activities 51 51 56 15
Capital expenditure included within
investing activities (14) (16) (49) (49)
Interest received 1 6 14 19
Facility fees capitalised within
prepayments - - (15) -
Proceeds on sale of financial assets 3 - 3 -
Disposal of continuing operations - (3) (6) (2)
Disposal working capital movement - - - 14
----------- ----------- ----------- -----------
Free cash flow including legacy items 41 38 3 (3)
Add back net legacy items 2 9 23 57
----------- ----------- ----------- -----------
Free cash flow excluding legacy items 43 47 26 54
----------- ----------- ----------- -----------

The directors consider that the best measure of the Group's cash performance is
free cash flow excluding legacy items as calculated above.

Legacy items relate to payments and receipts in respect of legacy liabilities.
These liabilities are specific liabilities that were classified as such at the
time of the Group's refinancing in 2004. These legacy liabilities comprise
pension funding obligations, environmental matters arising prior to March 2004,
tax due from or in respect of years ending prior to March 2004, litigation and
other settlements of actions or potential action, each arising prior to March
2004 and transition costs in connection with the reshaping of the Group in early
2003.


7 Earnings/(loss) per share

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
----------- ----------- ----------- -----------
Earnings/(loss)per share (pence)
Continuing operations
Basic 4.0 p (0.8)p 5.5 p (8.4)p
Diluted 3.9 p (0.8)p 5.3 p (8.3)p
Before exceptional items,
exceptional finance costs and
foreign exchange gains and losses 4.0 p 1.6 p 10.8 p 1.0 p

Discontinued operations
Basic 1.2 p 0.1 p 18.6 p 9.5 p
Diluted 1.1 p 0.2 p 18.2 p 9.4 p

Total Group
Basic 5.2 p (0.7)p 24.1 p 1.1 p
Diluted 5.0 p (0.6)p 23.5 p 1.1 p

Weighted average number of shares
(million)*
Basic 796 609 713 609
Effect of dilution - share
options 19 8 18 5
----------- ----------- ----------- -----------
Diluted 815 617 731 614
----------- ----------- ----------- -----------

Earnings/(loss)(m)
Continuing operations
Basic 32 (5) 39 (51)
----------- ----------- ----------- -----------

Before exceptional items, exceptional
finance costs and foreign exchange
gains and losses
Operating profit before
exceptional items 56 46 162 120
Finance costs (14) (37) (68) (115)
Finance income 2 7 13 21
Other finance charges - IAS 19 (4) (2) (8) (5)
----------- ----------- ----------- -----------
Operating profit less net
finance costs 40 14 99 21
Taxation on operating profit
less net finance costs (7) (3) (21) (15)
Minority interests (1) (1) (1) -
----------- ----------- ----------- -----------
32 10 77 6
----------- ----------- ----------- -----------
Discontinued operations
Basic 9 1 133 58
----------- ----------- ----------- -----------
Total Group
Basic 41 (4) 172 7
----------- ----------- ----------- -----------

The basic earnings/(loss) per share for the quarter has been calculated using
796 million shares (Q3 2005/06: 609 million), being the weighted average number
of shares in issue during the quarter and the profit/(loss) after taxation and
minority interests for continuing operations, discontinued operations and total
Group as shown above.

Earnings/(loss) per share is also calculated by reference to earnings before
exceptional items, exceptional finance costs and foreign exchange gains and
losses with an underlying tax charge of 7 million for continuing operations (Q3
2005/06: 3 million), since the directors consider that this gives a useful
additional indication of underlying performance.

The diluted earnings/(loss) per share has been calculated in accordance with IAS
33, Earnings per Share without reference to adjustments in respect of certain
share options which are considered to be anti-dilutive.

There have been no other transactions involving ordinary shares or potential
ordinary shares between the reporting date and the date of completion of this
quarterly report.

*Comparative figures for the weighted average number of shares have been
restated after adjusting for the bonus element of the 2 for 5 Rights Issue and
the share consolidation of one 10p share for every ten 1p shares in July 2006.
The adjustment factor for the Rights Issue is 1.070588 calculated using 19.75p
per share, being the closing price on 6 July 2006.


8 Assets and liabilities held for sale

Assets and liabilities held for sale as at 31 December 2006 consist of the
Group's surplus freehold property portfolio. Assets and liabilities held for
sale as at 31 December 2005 consist of the Group's surplus freehold property and
the assets and liabilities of ABS EMEA, Lambda and Baker. Assets and liabilities
held for sale as at 31 March 2006 consist of the Group's freehold property
portfolio, the assets and liabilities of a small business within Process
Systems, and the assets and liabilities of IBS.


9 Reconciliation of movements in equity

Quarter ended Quarter ended 9 mths ended 9 mths ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
m m m m
----------- ----------- ----------- -----------

Opening equity (251) (584) (593) (476)
Adoption of IAS 39 - - - 10
----------- ----------- ----------- -----------

As restated after adoption of IAS 39 (251) (584) (593) (466)
----------- ----------- ----------- -----------

Total recognised income/(expense)
for the period 30 (4) 46 (52)

Share-based payment 3 2 7 3
Issue of share capital (net of
issue expenses) - - 323 -
Disposal of minority interests - (2) - (73)
Dividends paid to minority interests (1) (2) (2) (2)
----------- ----------- ----------- -----------
At end of period (219) (590) (219) (590)
----------- ----------- ----------- -----------
Attributable to:
Equity holders of the parent (280) (655) (280) (655)
Minority interests 61 65 61 65
----------- ----------- ----------- -----------
(219) (590) (219) (590)
----------- ----------- ----------- -----------

Effect of changes in accounting policy:

Net gain on cash flow hedges on
first-time adoption of IAS 39 4
Net gain on available-for-sale
investments on first-time
adoption of IAS 39 6
-----------
Increase in total equity 10
-----------

10 Basis of preparation

The Group prepares its annual financial statements on the basis of International
Financial Reporting Standards (IFRS) as adopted by the European Union (EU) and
in accordance with the provisions of the Companies Act 1985. The financial
information presented in this quarterly report has been prepared in accordance
with the accounting policies expected to be used in preparing the annual
financial statements for the year ending 31 March 2007, which do not differ
significantly from those used for the most recent annual financial statements.


11 Financial information

This quarterly report was approved by a duly appointed and authorised committee
of the Board of directors on 7 February 2007. This statement does not comprise
the statutory accounts of the Group, as defined in section 240 of the Companies
Act 1985. The financial information for the quarter ended 31 December 2006 is
unaudited. The financial information for the balance sheet as at 31 March 2006
has been extracted from statutory accounts on which an unqualified audit report
has been issued.

The statutory accounts of Invensys plc for the year ended 31 March 2006 have
been delivered to the Registrar of Companies. The auditors, Ernst & Young LLP,
reported on those accounts in accordance with section 235 of the Companies Act
1985 and their report was unqualified and did not contain a statement under
section 237(2) or (3) of the Companies Act 1985.


12 Exchange rates

9 mths ended 9 mths ended Quarter ended Quarter ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
Average Average Average Average

US$ to 1 1.87 1.80 1.93 1.76
Euro to 1 1.47 1.47 1.49 1.47

31 March 31 December 31 December
2006 2006 2005
Closing Closing Closing

US$ to 1 1.74 1.96 1.73
Euro to 1 1.43 1.49 1.46









This information is provided by RNS
The company news service from the London Stock Exchange





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2006 MoneyAM

Thats me out as of today,not letting greed get in my way of taking profits to pay for losses elswhere,good luck to those that stay in.

Does anyone know what's going on with this share price, despite the 1Q results.

This was cheap at 420 two month ago. Oil has been higher, no serious sub-prime problem etc. Why is it so low?

Higher oil price should improve orders and margin further.

It should start to move nicely by year end.

Invensys should follow the same direction as FTO. 50% rise in a couple of days till the results.

I was expecting much better peformance by now!

INvensy should play an important role in these. ISYS has long term contracts with bgy.
http://www.moneyam.com/action/news/showArticle?id=2572597
http://www.moneyam.com/action/news/showArticle?id=2572793

Future projection is much better than currently expected in the sector. http://www.moneyam.com/action/news/showArticle?id=2579624

This is still 50% lower than its peak. Amost no debt with good profit... Funny market IMO

The higher the oil price the better for Invensys orders. Invensys collaboration with BGY is getting more important now given oil at $100... IMO

Some of the shorts will be forced to close if it moves us any further. IMO

No bedt to rate...

Invensys' unsecured debt ratings withdrawn on redemption of senior notes

Late bid speculation helped Invensys rise 5.9 per cent to 279p - see FT.com

I can't beleive it's not butter.

Another 100m contract.
http://www.moneyam.com/action/news/showArticle?id=3075320

12% rise in profit last year and high price of oil will push investment in rail.
Both are good for future contracts adding these with weak will be even better.

shareholding by directors above 168.