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Engineering firm IMI sees drop in 2017 first-half organic revenue
February 24, 2017 / 8:15 AM / 10 months ago

Engineering firm IMI sees drop in 2017 first-half organic revenue

Feb 24 (Reuters) - British engineering firm IMI Plc said it expected organic revenue for the first half of 2017 to reflect a similar percentage reduction to the first half of the previous year, due to difficult market conditions.

The company had reported a 5 percent drop in organic revenue in the first half of 2016.

IMI’s reported group revenue rose 6 percent rise to 1.65 billion pounds ($2.07 billion) for the year ended Dec. 31. However, excluding favourable exchange rate movements and disposals, group revenues on an organic basis fell 5 percent. ($1 = 0.7967 pounds) (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)

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