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Daily News

Invensys plc Announces Financial Results
Nov 15, 2002
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Invensys plc said key features of its interim results for 6 months ended Sept. 30, 2002 were:

  • Operating margin of core group steady at 6.7 percent despite volume downturns in most markets and after additional investment of £20 million (U.S. $31.6 million) in performance initiatives.
  • Continuing operations sales of £2,666 million ($4,209 million) and operating profit of £209 million ($330 million) in line with expectations. Core group sales down 9 percent to £2,128 million ($3,360 million) and operating profit down 7 percent to £143 million ($225.8 million).
  • Restructuring charges on target at 2 percent of sales for core Group.
  • Free cash flow £9 million ($14.2 million) with lower restructuring charges and capex but reflecting ongoing need for tight cash management.
  • Net debt of £2,667 million ($4,211 million).

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