Rotork down on pre-close update

FTSE 250 industrial instruments manufacturer Rotork (LON:ROR) saw its share price sink by 2.38% to 279p (as of 15:55 BST) after warning that order intake in the first half was down by 16-18%. Group revenues for the period are expected to be down and operations have not fully returned to normal despite the disruption peaking in April. Management have not reinstated full-year guidance despite some improvement in the situation.

CEO Kevin Hostetler commented: “I would like to recognise the extraordinary fortitude and determination of all our people in recent months, be they in our factories, in Rotork Site Services, in our offices or currently working from home. Thanks to all their hard work Rotork will emerge stronger than ever. I am also really proud of their efforts supporting our local communities“.