- Industrial flow control equipment manufacturer Rotork booked a 4.5% fall in first-half profit as sales slipped, though it forecast flat sales for the full year.

Pre-tax profit for the six months through June fell to £52.2m, down from £54.7m on-year.

Revenue fell 3.7% to £318.6m, though adjusted profit rose 2.2% to £65.8m.

Rotork declared an interim dividend of 2.30p per share, up 4.5% on-year.

'We are committed to delivering sustainable mid-to-high single-digit revenue growth and mid-20s adjusted operating margins over time,' chief executive Kevin Hostetler said.

'Whilst macroeconomic uncertainty remains, with recent order intake and the momentum of our growth acceleration programme we now expect to deliver flat sales on an organic constant currency basis in 2019, with full-year adjusted operating margins showing clear progress year-on-year.'

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