February 28, 2020 / 7:47 AM / a month ago

Engineer IMI says first half sales to fall on China hit

(Reuters) - UK-based specialised engineering firm IMI (IMI.L) reported a fall in adjusted annual revenue on Friday and said it also expects first-half organic revenues to fall compared to last year, as the coronavirus outbreak hits global supply chains in the factory automation and commercial vehicle sectors.

The company, which generates about 8% of its revenue from China, said about a further 8% of revenue could be hit by either supply-chain sourcing or customer exports into China, assuming “no worsening of the current situation”.

Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below