IMI plc (GB:IMI) has released an update.
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IMI plc reported a resilient third quarter with a 1% organic revenue increase, driven by strong growth in its Process Automation sector and improved margins. Despite foreign exchange challenges, the company reaffirmed its full-year earnings guidance and announced the acquisition of TWTG Group to boost its aftermarket growth. A £100m share buyback was completed as part of IMI’s disciplined capital allocation strategy, aiming to sustain EPS growth.
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