ROR Rotork Plc

 

TIDMROR 
 
RNS Number : 7030K 
Rotork PLC 
23 April 2010 
 

23 April 2010 
                                  Rotork p.l.c. 
                          Interim Management Statement 
Rotork p.l.c., the market leading actuator manufacturer is today publishing its 
first Interim Management Statement for 2010. 
 
The year has begun well and in line with our expectations.  The order book and 
current trading levels support our confidence that the company will make 
progress again this year as we continue to see increased activity in many of our 
end user markets and geographies. 
Order intake has picked up in the first quarter, albeit marginally down on the 
record order intake achieved in the first quarter of 2009. Shipments in the 
quarter are as expected, down 8% on the record levels set last year when the 
order book had been at an all time high.  The order book at the end of March 
stood at GBP130m which was slightly higher than the year-end position but 10% 
down on the same period last year. 
The competitive environment remains challenging and we are experiencing 
increased pricing pressure however we anticipate that this will soften as 
activity levels continue to increase. We remain the actuator supplier of choice 
for many of our customers and this, together with our lean business model, 
strong balance sheet and international coverage, positions us well to take 
advantage of an upturn in the market and achieve our growth targets.  Cash 
balances at the end of March were GBP84m. 
There have been no material events or transactions affecting the Group in the 
period. 
 
For further information, please contact: 
Rotork p.l.c. 
                   Tel: 01225 733200 
Peter France, Chief Executive 
Jonathan Davis, Finance Director 
Financial Dynamics 
          Tel: 020 7831 3113 
Jon Simmons / Sophie Kernon 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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