Invensys announces Q3 2005/06 results
Posted 23 February 2006
2005/06 THIRD QUARTER RESULTS
FOR THE THREE MONTHS ENDED 31 DECEMBER 2005
Prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the Group. Q3 highlights
“We produced an encouraging overall operating performance in the quarter supported by strong free cash flow before legacy items.
“Process Systems produced an excellent result including a £14 million profit increase and a 17% improvement in orders at CER. Rail Systems returned to profit growth and again increased its order book. As expected, Controls’ results were slightly weaker although order intake within its main appliance and climate businesses has begun to stabilise. Although APV made an operating loss, we are seeing optimistic signs that its order book is increasing.
“We continue to expect that the results for the year will be in line with expectations”. For full results and more information, go to the Invensys Results Day Centre
FOR THE THREE MONTHS ENDED 31 DECEMBER 2005
Prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the Group. Q3 highlights
- Revenue from continuing operations2 was £628 million (Q3 04/05: £595 million), up 2% at constant exchange rates (CER)
- Operating profit3 from continuing operations was £48 million (Q3 04/05: £44 million), up 4% at CER
- Operating margin3 of continuing operations after corporate costs was 7.6% (Q3 04/05: 7.4%)
- Corporate costs were reduced to £8 million (Q3 04/05: £10 million)
- Free cash inflow before legacy items was £47 million (Q3 04/05: £6 million)
- Net debt reduced in the quarter by £17 million to £673 million
“We produced an encouraging overall operating performance in the quarter supported by strong free cash flow before legacy items.
“Process Systems produced an excellent result including a £14 million profit increase and a 17% improvement in orders at CER. Rail Systems returned to profit growth and again increased its order book. As expected, Controls’ results were slightly weaker although order intake within its main appliance and climate businesses has begun to stabilise. Although APV made an operating loss, we are seeing optimistic signs that its order book is increasing.
“We continue to expect that the results for the year will be in line with expectations”. For full results and more information, go to the Invensys Results Day Centre