StockMarketWire.com - Flow control manufacturer Rotork said its revenue increased by 10.2% in the first quarter amid 'favourable market trends' and the winning of several orders.

The company said its order intake rose 20.9%, or 27.0% on a constant currency basis.

The order book at 1 April was worth £228.3m, 18.6% higher than at 31 December 2017 and 12.3% higher than a year earlier.

Revenue for the full year was now expected to show mid to high single digit growth, despite a currency headwind of around 5%, based on current rates.

However, the company said much of the profit driven from higher revenue would be invested in new products and expansion of its infrastructure.

'Despite an unfavourable divisional mix, with stronger growth in fluid systems, and a small number of large projects in Asia both having a dilutive impact, we now expect adjusted operating margins to be slightly ahead of the prior year, given the stronger than anticipated growth,' the company said.






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