Rotork (ROR) - profit warning and share price plunge, the predators will be lurking…
The Group confirmed that the trading environment in the second half to date has been challenging across most of their key markets (read mostly oil and gas) and geographies with an increased number of project deferrals and cancellations. Even the great Rotork clearly underestimated the extent of the downturn.
The Group’s “lean business model” means that they have quickly cut costs but the savings will not be sufficient to mitigate the profit impact of…
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