Global spread pays off at Rotork
Friday 06 August 1993
Tom Eassie, chief executive, said success lay in the fact that markets for its valve actuator were spread across 50 countries. Exports account for 75 per cent of group turnover.
Key customers for the actuators, which open and close pipes to control the flow of solids, liquids and gases, include the water and oil industries. They total 80 per cent of group sales.
'Our markets, like water and power generation, are ones in which people cannot do without our products,' Mr Eassie said. 'If we have a problem in one place, we will be covered elsewhere. 'All we need is one good project, like a big refinery revamp or a huge sewage works. If you strike lucky a bad year becomes a good one.'
Sterling's depreciation helped to counter 'savage' pricing of actuators by international competitors.
Rotork made pre-tax profits of pounds 6.2m in the six months to June on turnover up 26 per cent at pounds 34m.
Acquisitions included the purchase of the actuation division's Venezuelan agent's business for dollars 700,000. Rotork Analysis, which analyses emissions from factories and refineries, bought a range of refinery analysers for pounds 1.15m.
Both deals were in May and made little contribution to the figures.
Rotork has a cash pile of pounds 13m after the acquisitions and after spending pounds 1.52m on the interim dividend, which was increased by 12.9 per cent to 1.75p. The shares rose 6p to 188p.
- 1 California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
- 2 Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
- 5 We have six months to save the world, says leading economist
California man brutally beat 82-year-old Sikh grandfather he mistook for 'one of those people'
Sepp Blatter resigns: FBI are investigating outgoing Fifa president, claims report
Alton Towers crash: Four guests seriously injured as Smiler ride carriages collide
Charles Kennedy 'had better judgement drunk than many sober politicians' says Ian Hislop
Gay teenager 'forced to have sex with his own mother' to 'cure' his homosexuality, campaigners in India say
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Church of England 'one generation away from extinction' after dramatic loss of followers
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...