IMI lifts profits despite cost pressures

British engineering group IMI today posted a 14% hike in underlying profits to £155.4m (€225.2m) – but warned it was unlikely to see any respite from higher raw material and energy costs.

The Birmingham-based firm, which makes drinks dispensing equipment and pipes and fittings for the medical and automotive industries, said most of its divisions managed to improve operating profits in the year to December 31.