Rotork Q1 revenues seen 'modestly lower'

(Sharecast News) - Industrial flow components manufacturer Rotork said on Friday that Q1 revenues had slipped despite reporting increased order intake during the period. Rotork said revenues were "modestly lower year-on-year" in the quarter, reflecting order book phasing and a strong comparator, even as order intake was said to be up mid-single digits year-on-year.

The FTSE 250-listed group stated all of its divisions achieved higher orders year-on-year, with water and power delivering the highest growth. Orders from the LNG liquefaction sector were "strongly ahead" year-on-year.

Rotork also noted that its three North American facilities, which together represent around a fifth of group sales, were all located in the US and had the capacity to supply the majority of local demand. Additionally, to cover incremental costs arising from higher tariffs, Rotork said it had implemented a surcharge increase.

Looking forward, Rotork stated there has been "no significant change in order trends or customer behaviour" since the publication of its FY24 results and said April trading was in line with internal expectations.

"Whilst we are mindful of ongoing macro uncertainty, we continue to expect 2025 to be a year of progress on an OCC basis supported by our order book and positive end markets," said Rotork.

As of 0825 GMT, Rotork shares were down 1.90% at 299.20p.

Reporting by Iain Gilbert at Sharecast.com