Rotork launches £50m share buyback with trading on track

(Sharecast News) - Engineering firm Rotork on Wednesday unveiled a new £50m buyback as it reaffirmed full-year guidance. The company said its performance in the four months to October 31 saw order intake rise 6% year-on-year with all three divisions ahead and particularly good growth in its chemical, process and industrial unit.

"Overall end markets remain supportive and the Growth+ strategy continues to position us to grow ahead of our broader end markets by focusing on target segments in faster growing niches, new end markets and on market share opportunities," the company said in a trading statement.

Reporting by Frank Prenesti for Sharecast.com