IMI sees double-digit growth in sales, profits - UPDATE

Engineering group IMI has raised its full-year dividend by 15 percent after seeing double-digit growth in both revenues and adjusted profits in 2011.

Engineering group IMI has raised its full-year dividend by 15 percent after seeing double-digit growth in both revenues and adjusted profits in 2011.

During the 12 months ended December 31st, revenue jumped 12% from £1,911m to £2,131m, ahead of expectations of £2,120bn. On an organic basis, adjusted for recent acquisitions and exchange rate movements, revenues rose 5% "reflecting improved trading conditions in most of our end markets," IMI said.

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