Final Results

Rotork PLC
22 March 2001

                                Rotork p.l.c.

                           Preliminary Announcement

Rotork p.l.c., the international specialist engineering group, announces
audited results for the year ended 31 December 2000.


                                                           2000            1999

Turnover                                                £107.9m         £117.5m

Operating profit                                         £19.8m          £26.0m

Profit before taxation                                   £20.6m          £26.9m
- before goodwill
amortisation                                             £21.6m          £27.8m

Earnings per share
- basic                                                   15.6p           20.3p
- diluted                                                 15.6p           20.3p
- basic before goodwill
amortisation                                              16.8p           21.3p

Dividend per share                                        12.2p           12.2p

Highlights of the year included:

  * Gross margin maintained near 1999 levels
  * New IQ actuator launched; well received by customers
  * Move to new US production facility completed on time and under budget
  * Order book up 19% on previous year
  * Performance reflects reduced capital expenditure in the hydrocarbon
    sector

Chief Executive, Bill Whiteley, said:

'Following a difficult eighteen months, activity in the hydrocarbon sector has
returned to more normal levels. With the new IQII actuator now in full
production and our closing order book up nearly 20% on last year the outlook
for the current year is more promising.'

For further information, please contact:

Rotork p.l.c.                         Tel: [phone]

Bill Whiteley, Chief Executive

Bob Slater, Finance Director

Financial Dynamics                    Tel: [phone]

Tom Baldock

                            PRELIMINARY STATEMENT




Introduction

Lower investment in the hydrocarbon sector and consolidation within the
industry over the last eighteen months resulted in reduced levels of capital
investment and therefore contributed to lower demand for actuators and
associated products. Over 40% of Rotork actuators are shipped to customers in
these sectors and the result of this reduced spend was that the order book at
the beginning of 2000 was lower than at the previous year-end. Nevertheless,
gross margin in 2000 was maintained at 1999 levels underlining the quality of
our products and customer support. In addition activity in this sector now
appears to be returning to more normal levels and I am pleased to report that
our closing order book was nearly 20% higher than at the end of the previous
year.


Operating Review

The most significant development programme undertaken to date at Rotork is now
complete and the latest version of the IQ intelligent actuator is in full
production at our Bath and Rochester facilities. The increased functionality
obtained by utilising advanced electronic techniques is meeting with
widespread customer approval. During the development programme the opportunity
was taken to identify lower cost overseas sources for some of the more
significant electronic and mechanical assemblies. We intend to make greater
use of these and other low cost sources in the future to further reduce costs
across our complete product range.


The new production facility for our American operations situated in Rochester
New York was completed on schedule and under budget in May. We took the
opportunity to introduce the modern production methods that had already been
successfully installed at our Bath plant to improve the efficiency and
capacity of this operation. Rotork Gears are also using this facility as a
base for their expanding American operations and the resulting improved
service levels to US customers have already created further business
opportunities for these products.


Rotork Gears now contributes significantly to our profitability and this is
due in part to the successful integration of acquisitions made in recent
years. The latest of these was the purchase in October of the business and
assets of the actuator division of Skil Controls Limited previously located in
Skelmersdale. This business had a specialised product, which is capable of
being marketed through our existing international sales network. Although
currently relatively small, we believe that potential exists for significant
growth.


The year saw the opening of our wholly owned company in the People's Republic
of China and business levels there to date have been encouraging. The rest of
our Far East operations experienced a mixed year but all have had acceptable
returns and the outlook in most of these territories is now more positive than
it had been for some time.


Our Fluid Power plants in the USA and Italy are particularly dependent of oil
industry business and as a result experienced a difficult trading environment
during the year.


We have redesigned our processes in both plants and have an ambitious product
development programme. As a result of restructuring, a new Fluid Power
management team has been put in place. I am pleased to report that the fluid
power order book at the end of the year was higher than it has been in the
recent past and there is currently much more optimism about our prospects.


Dividend

In view of the current trading position the directors are recommending that
the dividend be held at last year's level with a final dividend of 7.8p
bringing the total for the year to 12.2p. This will be paid on 21 May to
shareholders on the register on 30 March.


Outlook

Our strategic focus has continued to be the design, manufacture and marketing
of actuator, system and related products. Our Product development programme in
the three main activities, Electric Actuators, Fluid System and Rotork Gears
is providing a greater breadth of solutions to customers across our market
sectors, supported by acquisition where appropriate.


Activity levels are steadily improving and our marketing companies view the
year ahead with greater confidence. The second half of 2000 saw an improvement
in order intake into our plants, and this trend has continued into the early
part of the current year. The introduction of our new IQ actuator is
strengthening our market position and we will build on this success with
further product developments that will incorporate its innovative concepts.
The strength of sterling, particularly against the Euro, continues to cause
difficulties for us but with some signs of favourable movement this year,
together with improvements in activity from our main customer sectors, the
outlook for the current year is more promising.




Audited Consolidated Profit and Loss Account

for the year ended 31 December 2000
                                                           Group          Group

                                                            2000           1999

                                                           £'000          £'000

Turnover                                                 107,880        117,535
Cost of sales                                           (59,021)       (63,626)
                                                         _______         ______

Gross profit                                              48,859         53,909
Distribution costs                                       (2,286)        (2,023)
Administrative expenses                                 (27,502)       (26,021)
Other operating income                                       680             95

Operating profit                                          19,751         25,960

Operating profit before
amortisation of goodwill                                  20,787         26,855
Amortisation of goodwill                                 (1,036)          (895)
                                                          ______        _______
Operating profit                                          19,751         25,960


Net interest receivable and
similar items                                                831            987
                                                         _______        _______

Profit on ordinary activities
before taxation                                           20,582         26,947
Tax on profit on ordinary
activities                                               (7,110)        (9,477)

Profit for the financial year                             13,472         17,470
Dividends including non equity                          (10,504)       (10,546)
                                                         _______         ______

Retained profit for the
financial year                                             2,968          6,924
                                                         _______         ______

                                                           pence          pence
Basic earnings per share                                    15.6           20.3
Basic earnings per share before
goodwill amortisation                                       16.8           21.3
Diluted earnings per share                                  15.6           20.3



All results relate to continuing operations



Audited Balance Sheet

at 31 December 2000
                                                            Group        Group

                                                             2000         1999

                                                            £'000        £'000
Fixed assets

Intangible assets                                          18,166       19,175
Tangible assets                                            15,763       14,412

                                                           33,929       33,587

Current assets
Stocks                                                     14,553       13,790
Debtors due within one year                                32,562       27,806
Debtors due after more than one
year                                                          384          581
Cash at bank and in hand                                   16,820       25,788

                                                           64,319       67,965

Creditors:
Amounts falling due within one year                      (31,491)     (35,824)

Net current assets                                         32,828       32,141

Total assets less current liabilities                      66,757       65,728

Creditors:
Amounts falling due after more
than one year                                             (1,011)      (1,758)

Provisions for liabilities and
charges                                                   (3,293)      (4,221)
                                                           ______       ______
Net assets                                                 62,453       59,749
                                                            =====        =====
Rotork shareholders' funds
Equity                                                     62,394       59,690
Non-equity                                                     59           59
                                                          _______      _______
Capital employed                                           62,453       59,749
                                                            =====        =====

Note:

The financial information set out above does not constitute the company's
statutory accounts for the years ended 31 December 2000 or 1999. The financial
information for 1999 is derived from the statutory accounts for 1999 which
have been delivered to the Registrar of Companies. The auditors have reported
on the 1999 and 2000 accounts; their reports were unqualified and did not
contain a statement under section 237 (2) or (3) of the Companies Act 1985.
The statutory accounts for 2000 will be delivered to the Registrar of
Companies following the company's annual general meeting.





Audited Statement of Group Cash Flow

for the year ended 31 December 2000
                                                          Group          Group

                                                           2000           1999

                                                          £'000          £'000

Operating profit                                         19,751         25,960
Depreciation and amortisation                             2,995          2,758
Profit on sale of fixed assets                            (101)              -
Movement in working capital                             (6,236)        (2,772)
                                                         ______         ______
Net cash inflow from operating
activities                                               16,409         25,946

Returns on investments and
servicing of finance                                        863            894

Taxation                                                (8,539)       (10,268)

Capital expenditure                                     (3,057)        (2,497)
Acquisitions and disposals                                (394)       (14,893)

Dividends paid on equity
ordinary shares                                        (10,543)        (9,817)

Financing                                               (1,615)            903
                                                        _______         ______
Decrease in cash and term
deposits in the period                                  (6,876)        (9,732)
                                                         ======          =====