Well worth a ride up and down on this one I reckon.

Presently long.

Intermediate Chart



1 Year Chart



Broker Recos to follow.

DYOR.

SHARE SUBDIVISION
As outlined in the Notice of Annual General Meeting dated 25 March 2015, and following the passing of the relevant resolution at the Annual General Meeting held on 24 April 2015, it is expected that the subdivision of each of the Company's existing ordinary shares of 5 pence each into 10 new ordinary shares of 0.5 pence each ("New Ordinary Shares") (the "Subdivision") will become effective at 8.00 a.m. on 18 May 2015 (the "Effective Date"). On the Effective Date, the Official List of the UKLA will be amended to reflect the Subdivision. The issued ordinary share capital of the Company immediately following the Subdivision becoming effective will comprise 869,393,180 New Ordinary Shares of 0.5 pence each.

New share certificates in respect of each shareholder's holding of New Ordinary Shares will be sent to the holders of certificated shares as soon as practicable after the Effective Date. Shareholders who hold their shares in uncertificated form will have their CREST accounts credited on the Effective Date.

StockMarketWire.com
Rotork's H1 pretax profit fell to £56.3m, from £61.5m. Revenue was £274.2m, from £278.5m. Order intake was £274.0m, from £302.7m. Interim dividend was 1.95p, from 1.92p.

Rotork also announced the acquisition of M&M International Srl, a subsidiary of Spirax-Sarco Engineering plc.

The enterprise value of the acquisition is 9.7m euros payable in cash.

The purchase will be funded from existing committed bank facilities. In 2014, based on audited accounts, M&M generated operating profit of €1.5 million on turnover of 8.9m euros

StockMarketWire.com
Rotork, the market leading actuator manufacturer and global flow control company, has acquired Bifold Group for up to £125m on a cash-free and debt-free basis.

Bifold, based in Manchester, is a leading manufacturer of pneumatic and hydraulic instrument valves and components focused on the oil and gas industry and wider industrial markets, with expertise in a number of niche sectors such as subsea and wellhead control systems.

The acquisition is in line with Rotork's strategy of strengthening its presence in the flow control market and broadening its product portfolio.

The total consideration is for up to £125m in cash, comprising £115m on completion and £10m deferred for up to two years based on achieving specific financial targets. The acquisition is being financed from new committed debt facilities.

Peter France, chief executive, said: "The acquisition of Bifold represents an exciting step forward in the continued development of Rotork Instruments. This strategic acquisition of a long held target of Rotork's is directly in line with our core strategy of strengthening Rotork's presence in the flow control sector and broadening our product portfolio.

Bifold is a highly complementary business to Rotork with a well-regarded management team that provides Rotork with an enlarged platform to further offer its products and services to the oil and gas sector and wider industrial markets."

StockMarketWire.com
Rotork said, based on current exchange rates, it expects FY revenue to be in the range of £530m-£555m with adjusted operating profit in the range of £120m-£130m.

"The trading environment in the second half to date has been challenging across most of our key markets and geographies," the company said.

"We have seen an increased number of project deferrals and cancellations, with trading in August particularly weak.

"We continue to see an encouraging level of quote activity and a large pipeline of opportunities. However, as we highlighted at the time of the half year results, the timing of order placement and product delivery remains difficult to forecast.

"A number of orders expected to be placed in the third quarter have been delayed with delivery now anticipated in 2016, impacting the Group's results for the current year.

"Rotork operates a lean business model and we have continued to implement our previously-announced cost management initiatives and are on track to achieve the savings indicated at the time of our half year results.

"However, these savings will not be sufficient to mitigate the profit impact of lower revenues in the year."

StockMarketWire.com
Rotork has acquired Roto Hammer Industries Inc. and Servo Moteurs Service. Roto Hammer, based in Tulsa, Oklahoma, USA, is a manufacturer of custom-designed chain wheel manual valve operators.

The enterprise value of the acquisition is up to $12.4 million, payable in cash. The purchase will be funded from existing committed bank facilities. In 2014 Roto Hammer generated operating profit of $1.9 million.

StockMarketWire.com
Rotork said its trading environment has remained challenging across most of its key markets and geographies. Nevertheless, the company's FY expectations remain unchanged from the guidance issued Sept. 17.

Based on current forex rates, revenue for the year would be in the range of GBP530m-GBP555m, with adjusted operating profit in the range of GBP120m-GBP130m.

Quotation activity in the third quarter was similar to the prior year but order intake was 17.2% lower (-17.3% OCC). Cumulative order intake in the ten months to 25 October was 12.5% lower (-15.1% OCC) than the same period in 2014.

Revenue for the third quarter was 18.1% lower (-18.6% OCC) than the comparable period with cumulative revenue 7.1% lower (-10.0% OCC) than the prior year. The order book at 25 October was £185m, a 13.3% reduction (-13.1% OCC) compared with the same point last year.

"Although our quote activity has remained encouraging, the timing of order placement and product delivery remains difficult to forecast," Rotork said in a statement.

"We continue to implement our previously announced cost management initiatives and we are on track to achieve the savings indicated at the time of our half year results.

"Today we are announcing the small acquisition of Eltav which provides wireless technology for the valve industry and will strengthen our wireless offering."

StockMarketWire.com
Rotork says its 2015 full results are in line with September and November trading update guidance.

The Company said adjusted operating profit reduced 20.3% to GBP125.3m. Adjusted operating margins reduced by 350 basis points to 22.9%, impacted by lower sales volumes and the mix effect of newly acquired businesses at lower margins, partially offset by a GBP4.0m reduction in overheads.

Revenue came in at GBP546.5m, which it said was supported by the order book at the start of the year so reduced by less than order intake and was 11.9% lower on an OCC basis and 8.1% lower on a reported basis.

Other key points include:
- Oil & Gas market remained weak

- Accelerated cost management programme delivering greater than anticipated annualised savings

- New product launches and continued investment to expand product portfolio

- Six acquisitions, including Bifold, completed in the year for GBP147.6m

- Strong cash generation with net debt of GBP71.1m at year end

- Full year dividend increased by 0.8% to 5.05p (2014: 5.01p)

Peter France, Chief Executive, commenting on the results, said:

"The challenging market conditions that we saw in the first half of the year continued for the remainder of 2015, with many of our key markets and geographies impacted by the weakness of the oil price, political instability and the slowdown in China.

"We were encouraged by the progress of our accelerated cost management programme in 2015 and further actions to mitigate the effect of end market weakness will remain a key focus in the current year. We continue to see opportunities to gain market share by expanding our product portfolio and through both organic development and acquisition. By continuing to implement our strategy for growth and targeted investment we will ensure that Rotork is well placed to make further progress over the medium to long term."

StockMarketWire.com
Rotork said it now expects reported revenue to be towards the top end of market expectations.

It continued that the trading environment is anticipated to remain challenging across most of its key markets and geographies.

"Margins are expected to be lower than the prior year, as previously indicated, but in line with market expectations," the company said.

"Currency continues to provide a tailwind, and based on current exchange rates is now expected to deliver a 10% benefit to both full year revenue and profit.

"Taking into account this assumed currency benefit, our performance to date, and anticipated shipments in the remaining two months of 2016, the Board now expects reported revenue to be towards the top end of market expectations."

Rotork said the underlying performance of the business in Q3 was broadly the same as was seen in the first half, albeit reported numbers have benefited from currency movements and a contribution from acquisitions.

"We continue to invest in infrastructure, including IT, that will improve our operational performance. In addition, good progress continues to be made on our previously-announced cost reduction programme."

Order intake for Q3 was up 22.2% (+0.1% OCC) on the comparable period in 2015, with cumulative order intake in the ten months to 30 October up 10.2% (-6.7% OCC) on the prior year.

Revenue for the third quarter was 28.9% higher (+5.3% OCC) than the comparable period, with cumulative revenue 8.3% higher (-8.6% OCC) than the prior year. The order book at 30 October was £214.0m, 15.3% ahead (-6.8% OCC) of the same point last year.

Goldman Sachs note:
"Buy Rotork (£2.80 PT): 2016 marks the trough

We forecast a 2016E EBIT margin 650bp lower than the 2014 peak but recovering 65% by 2020, driving 54% earnings growth (GSe sector +21%) and sector-leading ROIC improvement (+9% pts by FY20). O&G capex inflection, 3Q order stabilisation and easier comparatives bode well. We are 7% above 2017 Bloomberg EBIT consensus."

Peel Hunt today reaffirms its add investment rating on Rotork PLC (LON:ROR) and raised its price target to 285p (from 230p).

StockMarketWire.com
Rotork's FY pretax profit has slipped to £91.1m, from £101.9m, as its revenue for the period and dividend improved alongside a stabilising trading environment in H2.

Revenue was £590.1m, from £546.5m. FY dividend was 5.1p a share, from 5.05p.

CEO Peter France said that in H2 2016 the trading environment saw some stabilisation and the company benefited from a strengthening currency tailwind.

"The acquisitions completed in 2015 and 2016, along with the introduction of a number of new products, also supported our growth," he added.

"We anticipate that any near-term growth in energy markets will remain modest. Our focus will remain on providing our customers with innovative, high quality products and services, reducing their cost of ownership and improving plant efficiency."

Rotork's cost management would remain a priority in the current year as it looked to mitigate any inflationary pressures through its highly flexible operating base, said France in a statement.

"We continue to target growth through organic development and acquisition that will enhance our broad product portfolio, diverse end market exposure and wide geographic presence."

France said that whilst mindful of continued macroeconomic uncertainties, at this stage of the year directors believed Rotork was well placed to make progress in 2017.

StockMarketWire.com
Rotork, an actuator manufacturer and flow control company, grew its order intake by 11.8%, or 7.9% on an organic constant currency (OCC) basis, in the third quarter.

Revenue increased by 5.1% (+0.9% OCC), reflecting a continuation of the slightly more favourable market trends seen during the first half of the year.

Year-to-date (to 29 October 2017) order intake was up 15.3% (+6.2% OCC) with an 8.9% increase in revenue (+0.8% OCC).

The order book at 29 October 2017 was £219.4m, 21.4% (23.2% OCC) higher than at 31 December 2016.

Rotork said the results for the third quarter reflect a continued improvement in levels of activity in upstream, with a slight increase in downstream over the comparative period in the prior year.

Midstream remained challenging. There was good progress across the water, power and industrial process markets. Geographically there was growth in the Middle East, parts of Asia, North America and Europe while Latin America remained subdued.

The company said it is committed, over time, to returning Rotork to the higher levels of organic growth and margins previously delivered by the group.

This will require a significant increase in investment in new products and service, funded primarily by a reshaping of sales and operating infrastructure.

It is engaged in a series of reviews to examine our routes to market, innovation funnel, operations footprint, supply chain, talent development and IT systems. The one-off costs associated with these reviews, together with any restructuring costs arising from early implementation, are anticipated to be mid-single digit millions for 2017.

The group had net debt of £39.0m at 29 October 2017 (£55.0m at 31 December 2016).

"Based on our performance to date, anticipated shipments in the remaining two months of the year, and a slightly reduced tailwind from currency, results for the full year remain in line with management expectations," it said.

StockMarketWire.com
Rotork, which manufacturers industrial flow-control equipment, said its adjusted annual profit rose, as a 'modest' recovery in trading conditions picked up momentum in the second half of the year.

Adjusted pre-tax profit rose 5.8% to £124.8m, as revenue grew by 8.8% to £642.2m.

Statutory pre-tax profit, which included acquisition and restructuring costs, fell 11.5% to £80.6m.

The company declared a full-year dividend of 5.40p, up 5.9% on 2016.

'During the year, we saw a return to more favourable market conditions,' executive chairman Martin Lamb said.

'We saw modest recovery in certain markets and geographies in the first half of the year with a continued improvement during the second half.'

Lamb said the company expected to grow revenue in the mid-to-high single digits in 2018, though its reported results would be impacted by a 4-5% currency headwind on both revenue and profits.

'Adjusted operating profit margins are expected to be similar, with contributions from higher volumes offset by increased investments in new products, expansion of our service infrastructure, and accelerated investment in our systems and IT capabilities,' Lamb added.

One-off costs associated with an ongoing strategic reviews were likely to be at similar levels in the first half of 2018 to the second half of 2017.

Citigroup today reaffirms its buy investment rating on Rotork PLC (LON:ROR) and set its price target at 315p