LONDON (ShareCast) - Engineer Rotork posted record half-year results and said it expects outcome for the year to be at the upper end of market expectations.

“The strong order book, continued good order intake and project activity give us confidence that the outcome for the full year will be at the upper end of the current range of market expectations,” said the group.

Pre-tax profit increased to £33.3m from £26.9m on revenue that rose 27% to £143.5m. Interim dividend rose 20% to 9.25p per share.

The order book at the end of June reached a new high of £135m, much of it for shipment in the second half.

The group said the oil & gas, power and water sectors remain strong. It said its operating divisions has seen very positive market activity and all are reporting improvements in performance with double digit increases in revenue and profit.

“Rotork is well positioned to capitalise on the exciting growth prospects in our key markets. We continue to improve our market share and actively search for further growth opportunities. Our order book is at a record high level and market and project activity is strong with investment in infrastructure around the world encouraging,” said the group.

• News Channel