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Follow on Google News | Invensys FTSE 100's biggest faller, order intake downSpread betting provider City Index takes a look at the financial activity shaping the markets on 19th May 2011.
By: City Index Increased revenue and profits have not kept Invensys from falling down the FTSE 100, losing the most from its share price this morning (May 19th). As of 08:30 BST, the organisation had retreated by 4.65 per cent, taking the top spot in London's premier stock index's biggest fallers. The performance followed the release of its financial results for the year ended March 31st 2011. Revenue rose by 11 per cent on 2010 to reach just under £2.5 billion, while operating profit increased six per cent to £262 million. Order intake did, however, shed one per cent to also almost hit £2.5 billion. Invensys announced senior management changes too, with chief executive officer and president James Drummond set to leave the company on June 30th. He will be succeeded by chief operating officer Kevin Riddett. Commenting on the financial results, chief executive of the firm Wayne Edmunds stated: "We are a global company operating in end markets which each have strong growth prospects. Our overall strategy remains unchanged but we will have an increased focus upon execution." See the City Index Economic Calendar for more information on the latest market moving events . Spread betting and CFDs are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks. * Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary. About City Index: Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform. As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, financial spread betting. We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ # # # As a group, City Index transacts in excess of 1.5 million trades every month in over 50 countries worldwide. We provide a wide range of instruments including forex, CFD trading and spread betting. For more information, visit http://www.cityindex.co.uk/ End
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