- Continued strong free cash flows
- Mitigation of supply chain issues
Positive metrics all round for IMI (IMI) as the engineering group drove operating profit up by a quarter (at constant currencies) to £142m, underpinned by a 170 basis point increase in the underlying margin. Profitability at the half-year mark still stacks up well on an adjusted (organic) basis against comparators for HY 2019, indicating that financial performance has been improving regardless of what might be termed a skewed comparison with 2020.