Rotork, the UK-based maker of industrial flow control equipment, recorded first-half revenue of £367.20 million, representing a 1.3% rise on an organic constant currency basis versus the same period last year. The top-line figure was marginally below the consensus forecast of £369 million from two analysts.
During the period the company completed a £40 million share buyback programme and disclosed a recommended cash acquisition by ABB.
On profitability, adjusted operating profit reached £82.20 million, outperforming a single analyst estimate of £78 million. By contrast, pretax profit was £71.40 million, short of the consensus estimate of £79 million from two analysts. Rotork reported an adjusted EBIT margin of 22.4% alongside an operating profit margin of 19.6% for the half.
Division-level performance showed growth in the CPI and Water & Power businesses, which compensated for a decline in the Oil & Gas segment. The Oil & Gas downturn was attributed to disruptions in the Middle East and more disciplined customer capital expenditure, according to the company. Service revenue expanded faster than the group overall and now makes up 24% of total revenue, underpinned by strength in CPI and Water & Power.
Rotork said adjusted operating margin expansion in the first half reflected operating leverage, disciplined cost management, and a favourable sales mix. Orders for the first half totalled £371.80 million.
The company maintained its 2026 full-year outlook and expects further progress on an organic constant currency basis. Management signalled that Water & Power performance should benefit from robust order momentum in the second half. Meanwhile, full-year revenue for Oil & Gas is expected to be slightly lower year-on-year.
Market reception and context
Rotork’s results delivered a mixed picture: adjusted operating profit outperformed a single analyst projection, while revenue and pretax profit missed consensus from two analysts. The completion of the £40 million buyback and the recommended ABB cash acquisition are notable corporate actions announced during the half.
First-half operational details and the outlook indicate an emphasis on service-led revenue growth and cost discipline, with the company anticipating continued progress for the remainder of the year driven by Water & Power order momentum.