IMI hit by tough US vehicle market in third quarter

Engineering giant IMI said that second-half trading has been in line with expectations so far though it did highlight some weakness in its Fluid Power division, owing to a tough US vehicle market.

Engineering giant IMI said that second-half trading has been in line with expectations so far though it did highlight some weakness in its Fluid Power division, owing to a tough US vehicle market.

Group organic revenues, which adjust for acquisitions and exchange rate movements, were up 3% in the four months to the end of October and were 4% higher for the first 10 months of the year. Reported revenues meanwhile were up 5% and 6%, respectively.

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