IMI PLC (OTCPK:IMIAF)

$ 22.975 0 (0%) Market Cap: 5.88 Bil Enterprise Value: 6.64 Bil PE Ratio: 18.15 PB Ratio: 4.18 GF Score: 83/100

Q1 2022 IMI PLC Interim Management Statement Call Transcript

May 05, 2022 / 07:00AM GMT

Release Date Price: $21.87

Transcript

Roy M. Twite

IMI plc - CEO & Director

Thank you, Kathy, and good morning, everybody, and thank you for taking the time to join us today. I am joined here as usual by Dan, our Finance Director, and I'll just take a moment to summarize some important points in our IMS before we take the questions.

So to begin with, I'd like to thank all of our employees for their excellent efforts and continuing dedication to our strategy and to our purpose, Breakthrough Engineering for a Better World, particularly given the current global events.

Group revenues were up 9% versus the first quarter of last year and up 5% organically, while first quarter margins were slightly improved compared to the same period last year. This is obviously despite the ongoing supply chain constraints and considerable inflationary pressures impacting our sector.

Despite that supply chain disruption, our customer-led strategy saw the Precision division achieved record customer satisfaction scores. And order momentum continues with first quarter orders for Precision and Hydronic combined exceeding sales by 8%.

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