IMI plc announced Interim Management Statement for the period from January 1 to May 8, 2013. The company announced that overall trading in the first four months of the year has been in line with management expectations. Group revenues in the four months to April were down 1% on a reported basis and 3% on an organic basis, after adjusting for exchange rate movements and acquisitions. The company provided earnings guidance for the first half, second half and full year of 2013. For the first half, the company expects to be slightly down on last year. For the second half, the company expects production, Europe and the U.S. combined, will probably be about flat with the second half of last year. Second half The company expects to be a bit up on last year. Expecting revenues to pick up in the second half, again aided by some new product introductions. The company expects its sales and production in the second half to mirror the OEM production in the second half without any real stock effect. The company remains confident that the Group will deliver progress over the full year in 2013.

IMI plc, Q1 2013 Earnings Call, May 09, 2013

IMI plc announced preliminary consolidated earnings results for the year 2012. For the year, the company reported organic and reported revenues rose 3% to GBP 2,190 million against GBP 1,131 million a year ago. Operating profit was GBP 317.9 million against GBP 314.2 million a year ago. Adjusted basic EPS rose 3% to 84.3 pence. After interest of GBP 17.7 million and higher pension financing income of GBP 11 million due to the lower U.K. discount rates, profit before tax and exceptionals was GBP 366 million. Profit before tax was GBP 317 million against GBP 301.4 million a year ago. Profit attributable to owner of the parent was GBP 230.6 million against GBP 200.4 million a year ago. Closing net debt was GBP 144 million, just below the GBP 150 million to GBP 170 million range mentioned at the IMS in November. Diluted earnings per share was 71.6 pence against 62.1 pence a year ago. Net cash flow from operating activities was GBP 211.4 million against GBP 216.6 million a year ago. Acquisition of property, plant and equipment was GBP 39.1 million against GBP 52.1 million a year ago. Capitalized non-acquired intangibles was GBP 7.8 million against GBP 6.8 million a year ago. The company announced lowers the effective tax rate a bit further in 2013. The company would expect the cash tax rate to revert back to be lower than the P&L rate in 2013.