Invensys FTSE 100's biggest faller, order intake down

Spread betting provider City Index takes a look at the financial activity shaping the markets on 19th May 2011.
By: City Index
 
May 19, 2011 - PRLog -- Spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 19th May 2011.
Increased revenue and profits have not kept Invensys from falling down the FTSE 100, losing the most from its share price this morning (May 19th).

As of 08:30 BST, the organisation had retreated by 4.65 per cent, taking the top spot in London's premier stock index's biggest fallers.

The performance followed the release of its financial results for the year ended March 31st 2011.

Revenue rose by 11 per cent on 2010 to reach just under £2.5 billion, while operating profit increased six per cent to £262 million.

Order intake did, however, shed one per cent to also almost hit £2.5 billion.

Invensys announced senior management changes too, with chief executive officer and president James Drummond set to leave the company on June 30th.

He will be succeeded by chief operating officer Kevin Riddett.

Commenting on the financial results, chief executive of the firm Wayne Edmunds stated: "We are a global company operating in end markets which each have strong growth prospects. Our overall strategy remains unchanged but we will have an increased focus upon execution."

See the City Index Economic Calendar for more information on the latest market moving events .
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As a group, City Index transacts in excess of 1.5 million trades every month in over 50 countries worldwide. We provide a wide range of instruments including forex, CFD trading and spread betting. For more information, visit http://www.cityindex.co.uk/.
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