Engineering firm IMI sees drop in 2017 first-half organic revenue

British engineering firm IMI Plc said it expected organic revenue for the first half of 2017 to reflect a similar percentage reduction to the first half of the previous year, due to difficult market conditions.

The company had reported a 5 percent drop in organic revenue in the first half of 2016.

IMI's reported group revenue rose 6 percent rise to 1.65 billion pounds ($2.07 billion) for the year ended Dec. 31. However, excluding favourable exchange rate movements and disposals, group revenues on an organic basis fell 5 percent. ($1 = 0.7967 pounds)

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)