The German contribution helped it to increase operating profits to pounds 48.7m from pounds 40.6m for the six months to 30 June. At the pre-tax level, however, profits growth was depressed by pounds 8m of losses incurred in Redwood International, IMI's computer programming subsidiary sold in July. Overall taxable profit rose 4 per cent to pounds 37m.
IMI has increased its dividend for the first time in four years. The interim payment is 5 per cent up at 4.4p. Gary Allen, chief executive, said the increase indicated management's confidence.
Earnings per share grew 6 per cent to 7.3p. Shares, up from 290p in July, fell back 11p to 325p yesterday.Reuse content