Half Year Results 

IMI reorganises amid market turmoil

IMI reorganises amid market turmoil

IMI (IMI) is considering which areas of its industrial automation business it will prioritise as the engineering group seeks ways to kickstart growth against a tough market backdrop. Having recently softened its critical engineering division’s focus on fossil fuel and nuclear activities, IMI’s strategic review will nevertheless also examine how it will make the most of “the significant liquefied natural gas (LNG) market opportunity” that it recognises. Over its first half, IMI’s new construction orders were 36 per cent higher owing to petrochemical, marine and LNG work, which offset declines in fossil fuels. But sales here were down 28 per cent, “reflecting the expected reductions from the order book phasing”.

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