IMI PLC (STU:IMI1)

€ 22.2 0.2 (0.91%) Market Cap: 5.71 Bil Enterprise Value: 6.44 Bil PE Ratio: 18.91 PB Ratio: 4.36 GF Score: 80/100

Q1 2023 IMI PLC Interim Management Statement Call Transcript

May 04, 2023 / 07:00AM GMT

Release Date Price: €18.6 (+3.45%)

Transcript

Roy M. Twite

IMI plc - CEO & Director

Thank you, and good morning, everybody. Thank you for taking the time to join us today. I am joined here, as usual, by Dan, our Finance Director.

I will just take a moment to summarize the highlights from our IMS before we move to Q&A. And I'd obviously like to begin with a very big thank you to all of our employees for their continued support, commitment and contribution towards delivering our purpose-led strategy, Breakthrough Engineering for a Better World.

It has been another excellent performance as we recorded our ninth consecutive quarter of organic growth. Group revenues were up 16% versus the first quarter of last year and up 8% organically, with all 3 divisions delivering improved margins.

Integration of our recent acquisitions is progressing well, and it's unlocking exciting new opportunities for growth and delivering synergies in line with our business cases.

Our restructuring program continues to reduce complexity and remain firmly focused and on track to deliver the expected benefits.

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