Rotork order intake up
Specialist engineer Rotork Plc has said that its order intake for the first quarter was 25 per cent higher than in the same period last year. On a like for like basis the company said its order intake was up 19 per cent, excluding its Remote Control Sweden (RCS) acquisition.
First Great Western to invest £29 mln in service improvementsBy the end of the first quarter Rotork said that its order book was worth £125 million, up 28 per cent from 31 December 2007. The company said it was negating cost pressures by sourcing and engineering cost reduction initiatives.
Rotork said that the process of integrating RCS was "proceeding well" and that order intake for the business was ahead of expectations for the first quarter. Rotork added tha it believed RCS would make a positive contribution to the business in the current year.
Rotork said that it benefited from the strengthening of its two major trading currencies, the Euro and the US Dollar, against the Sterling. Around 30 per cent of Rotork's revenue is in Euros.
The company said that it had continued to maintain a balance sheet and expected, "good levels of growth for both the half and full year."
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