Friday preview: IMI's Severe Service division in focus

1st Mar 2012 18:17

IMI, the international engineering company, is the third major engineering company to announce results this week.The market is expecting profit before tax for 2011 of £339.9m on turnover of £2.12bn. Earnings per share are tipped to rise to 77.86p from 66.30p last year, and the dividend to climb to 30.16p from 26.00p."Given the focus of attention on the Severe Service division of the group, we expect an update on the progress to integrate the recent acquisitions to this side of the business. In addition, we anticipate further strategic comment on this," Charles Stanley analyst James Dawson.Dawson notes that at the half year stage management had bragged of its ability to be financially nimble, thanks to the cost flexibility of the business model. "Given that this is exactly the trading environment that is facing the business it will be interesting to see whether the group has had to make further adjustments to the cost base or whether the structure is flexing as anticipated," Dawson suggests. INTERIM DIVIDEND PAYMENT DATEDaejan Holdings, Latchways, Mattioli WoodsINTERNATIONAL ECONOMIC ANNOUNCEMENTSRetail Sales (GER) (07:00)FINALSBBA Aviation, IMI, Jardine Matheson Holdings Ltd (Singapore), Jardine Strategic Holdingd Ltd. (Singapore), Laird, Rentokil InitialANNUAL REPORTSmith & NephewEGMSMTI Wireless Edge Ltd.AGMSCQS Diversified Fund Ltd Ord NPV £, MTI Wireless Edge Ltd.UK ECONOMIC ANNOUNCEMENTSPMI Construction (09:30)FINAL DIVIDEND PAYMENT DATEGooch & Housego, Sage Group, Treatt