Process automation provider Invensys plc had favorable currency fluctuations to thank for a 17% increase in order intake in its first quarter, the company revealed late last week.
In a terse interim management statement issued Friday, Invensys said that without the currency effects, orders for the period ended June 30, 2009 were flat against the prior year’s first quarter.
The solid first quarter continues the momentum that the London-based company displayed at the close of the previous fiscal year, when it recorded a full-year increase in orders of 38%.
“Based upon our current views of our markets and exchange rates, we continue to expect that the group will achieve an improvement in performance in the current year,” read the most recent statement.