IMI is bullish on margins

IMI posted a sharp rise in first-half profit that beat market forecasts on higher margins, which the British engineer expects to go up further in the second half, and said it sees new clean energy laws driving growth in several markets. For the January to June period, IMI reported an adjusted pre-tax profit of £136.4m, compared with £86.4m a year ago. Operating margins were 15.7 per cent versus 10.9 per cent a year ago.

Adjusted earnings per share grew by 61 per cent to 29.8p. Revenue rose nearly three per cent to £925m.