Invensys plc today reported the first encouraging signs in its sustainable growth strategy, reporting a 3% uptick in orders and a 6% revenue rise for the first half of its fiscal year.
Reporting in six-month cycles, the automation vendor announced the results of its fiscal half year, ended Sept. 30, 2010. The results indicated a rebound for Invensys, which saw revenues decline 2% and orders slide 12% during the last six-month period ending in March.
Invensys reported an operating profit of £100 million on revenue of £1.16 billion for the first half of the 2010/2011 fiscal year. Operating profit was down slightly from £102 million in the same period last year; however, revenues were up 6% from the £1.06 billion reported in the same period a year ago.
The London-based company is focusing its efforts on emerging markets and the energy industry. In these areas, the company’s process business, Invensys Operations Management (IOM), is leading the way by winning green-field projects in the Middle Eastern and Asian regions, and strengthening its position in the global nuclear power market, Invensys said.