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Rotork PLC on Tuesday reported increases in both revenue and profit for 2022, as it lifted full-year dividend by 4.7%. For the 2022, the industrial flow control equipment provider reported revenue of £641.8 million, up 13% from £569.2 million a year earlier, benefiting from the second half’s ‘strong recovery in deliveries’. Pretax profit rose 17% to £124.1 million from £105.9 million, while operating profit increased by 17% to £123.6 million from £105.7 million a year ago. Order intake for 2022 was up 11% to £681.6 million from £614.1 million in 2021. Rotork noted successful supply chain improvement measures reduced disruption through the year. Chief Executive Kiet Huynh said: ‘I am pleased to report a resumption of organic sales growth and a strong second half performance as expected. This was particularly encouraging given 2022’s highly challenging backdrop which included significant supply chain disruption and a resurgence in inflation. The outlook for our end markets is positive and we entered the year with a record opening order book.’ Rotork declared a full-year dividend of 6.70 pence each, up 4.7% from 6.40p a year prior. Closing net cash amounted to £105.9 million at period end, compared with £114.1 million in 2021. Shares were down 0.4% at 328.60 pence each on Tuesday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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