IMI raises profit forecast as data centre orders reach £25m

IMI plc, the FTSE 100 valves and actuators maker headquartered at Birmingham Business Park, has raised its full-year profit forecast after a third quarter in which data centre orders kept climbing.

In a trading update on 29 October covering July to September, the group said it now expects earnings of 137p to 143p a share, up from 136p to 142p, with data centre orders reaching £25m in the first nine months of 2026 against £9m a year earlier.

IMI plc divisions in the third quarter

Underlying sales grew 2% in the quarter, measured against 12% growth in the same period of 2025, and are 4% higher so far this year. The company said it remains on track for a sixth consecutive year of mid-single-digit growth.

Climate Control, which makes heating and cooling products for buildings, grew 13% in the quarter, helped by deliveries to data centres from its existing order book. Data centre orders had already reached £18m in the first half, up from £6m a year earlier.

Transport sales rose 19% as the heavy truck market recovered and IMI now expects high-single-digit growth in that business this year, up from mid-single-digit. A strategic review of the division is continuing. Process Automation sales fell 6% because of the timing of shipments, though its orders rose 19% excluding Truflo Marine. Shipments to the Middle East were in line with the company’s expectations.

Roy Twite, chief executive, said: “We delivered a good third quarter performance, against a very strong prior year comparator, with strong order intake in Process Automation and double-digit organic growth in Climate Control.”

“We have increased our full year earnings guidance, principally reflecting the additional contribution from Truflo Marine ahead of its disposal.”

Roy Twite, Chief Executive, IMI

The Truflo Marine sale and Aston

Most of the upgrade reflects timing. Truflo Marine, which IMI lists at Priory Road in Aston, is now expected to be sold in the fourth quarter rather than the third, so its profits stay in the group’s figures for longer. Stronger growth in Transport accounts for the rest.

The new forecast for IMI plc comes alongside its agreed €63m purchase of the Italian business iSMA CONTROLLI, which will add to its Climate Control platform.

The update adds to a run of trading news from Birmingham’s listed companies. Last week Mobico Group reported a 5% rise in revenue as it weighs a takeover offer.

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Sources: IMI plc Q3 2026 trading update RNS, 29 October 2026; IMI plc Half Year Results 2026 press release, 31 July 2026; IMI plc contact page, corporate headquarters; IMI Process Automation locations page