Interim Results

Rotork PLC
2 August 2000

                                Interim Results

Rotork p.l.c., the international specialist engineering group, announces its
interim results for the six months ended 30 June 2000.

Summary:

                                                2000      1999
Turnover                                        £52.0m    £60.1m
Operating profit                                £9.6m     £13.1m
Profit before tax and goodwill amortisation     £10.6m    £14.1m
Earnings per share before goodwill              8.2p      10.7p
amortisation
Dividend per share                              4.4p      4.4p

    Performance impacted by low levels of investment by customers in the oil
    and gas sector

    Cost reductions and efficiencies successfully achieved

    Gross margins maintained

    Increasing project activity throughout the period

    Reorganisation of Rotork Fluid System business progressing well

    Excellent customer response to IQ MKII actuator, due to be in production
    in the final quarter of the year

Commenting on the results, Bill Whiteley, Chief Executive said:
'The important oil and gas sector has taken longer to respond to higher oil
prices than we anticipated and this has had an impact on results for the first
half. However, a number of important operational efficiencies are being
achieved. With order levels now above those seen in the last quarter of 1999,
we believe that there are grounds for cautious optimism going forward.'

Enquiries:
Rotork p.l.c.                      01225 733200
Bill Whiteley, Chief Executive
Bob Slater, Finance Director
Financial Dynamics                 020 7269 7144
Tom Baldock

                               Interim Statement
                                       
Review of Operations

At  the time of the Annual General Meeting on May 18 I stated that the trading
environment  for the current year had been more difficult than expected.   The
low  levels of investment in many of Rotork's markets and the absence of major
projects which impacted last year's results continued into the early  part  of
the  current  year,  producing difficult first half  trading  conditions.   In
particular,  the important oil and gas sector has taken longer to  respond  to
higher oil prices than expected.

However, project activity has been increasing since late last year and in  the
2nd  quarter electric actuator orders were well above those of the  prior  two
quarters.  This trend has continued in July. Throughout the period Rotork  has
been able to maintain its gross margins.

Reduced  profit  in the first half has in the main been the  result  of  lower
shipments  from  the  Bath  plant  and  difficult  trading  in  some  European
operations,  particularly Spain and France.  South East Asia  has  returned  a
reasonable  profit  performance and in North East Asia we  have  continued  to
expand;  a  trading company was recently set up in Shanghai to  build  on  our
existing  infrastructure in the region.  Our performance in the  US  was  held
back  by contract timings and delays in Latin American projects.  The move  to
the new custom built facility in Rochester was completed on time, under budget
and without dislocation to operations.

Trading  at Rotork Gears was also impacted by lower business levels.  However,
recent  initiatives to expand the marketing and support of these companies  in
Continental  Europe  and  America has helped  mitigate  the  impact  of  this.
Expansion  of  this  side  of  the business  remains  a  key  objective.   The
reorganisation  and development of Rotork Fluid System continues  against  the
background  of  lower investment in oil and gas projects.   Orders  for  Fluid
Power  products are ahead of the comparative period due partly to new  product
initiatives.

The  IQ MKII product will be in production in the final quarter of the current
year.  The response to this new generation of our main product range has  been
most encouraging and cost reduction targets are being met.

Dividend
The  directors intend to maintain the interim dividend at 4.4p per  share  and
this will be paid on 2 October 2000.

Outlook
Whilst  the weakness of the Euro continues to be a negative factor, this  will
increasingly be mitigated by our sourcing policies.
The introduction of the new range of IQ products and the reorganisation of the
Fluid  System business should begin to contribute to group profits during  the
next twelve months.

Rotork's  strategy  of  not owning or being associated with  activities  which
compete  with our worldwide customer base has enabled the company to  increase
its  market share during a difficult time for the industry. The order book  at
the  half  year  is above that at the year end and the recent trend  in  units
quoted  and the order input for our electric actuator business give us  reason
to  believe that the negative impact of lower levels of investment in oil  and
gas  and  poor  economic  conditions in some of our key  overseas  markets  is
lifting.   The fundamental strengths of the company, its financial robustness,
and its worldwide reputation give the directors confidence in the longer term.

W H Whiteley,
Chief Executive
2 August 2000


Group Profit and Loss Account                             
Unaudited                                                 
                                      First    First      Full
                                       half     half      year
                                       2000     1999      1999
                                         £m       £m        £m
                                                              
Turnover                              52.03    60.13    117.54
                                                              
                                                              
Operating profit                       9.56    13.10     25.96
                                                              
Operating profit before               10.09    13.47     26.86
amortisation of goodwill
Amortisation of goodwill             (0.53)   (0.37)    (0.90)
                                                              
Operating profit                       9.56    13.10     25.96
                                                              
Net interest and similar income        0.47     0.61      0.99
                                                              
Profit before taxation                10.03    13.71     26.95
                                                              
Taxation                                                      
UK                                   (1.48)   (2.24)    (5.19)
Overseas                             (1.99)   (2.62)    (4.29)
                                                              
Profit after taxation                  6.56     8.85     17.47
                                                              
Dividend                             (3.80)   (3.80)   (10.55)
                                                              
Retained Profit                        2.76     5.05      6.92
                                                              
                                                              
                                      pence    pence     pence
Earnings per share                      7.6     10.3      20.3
Earnings per share before               8.2     10.7      21.3
goodwill amortisation
Diluted earnings per share              7.6     10.2      20.3
                                                              
                                                          
Dividend                                                  
An interim dividend maintained at 4.40p per ordinary share(1999: 4.40p) will
be paid on 2 October to shareholders on the register at the close of business
on 18 August.
                                                          
                                                         

Group Balance Sheet                       
Unaudited                                 
                                          
                          30   30 June  31 Dec
                        June
                        2000      1999    1999
                          £m        £m      £m
Fixed assets                                  
                                              
Intangibles             18.7      19.0    19.2
                                              
Tangibles               16.3      13.8    14.4
                                              
                        35.0      32.8    33.6
Current assets                                
                                              
Stock                   14.6      13.6    13.8
                                              
Debtors                 29.7      33.3    28.4
                                              
Cash                    20.6      19.2    25.8
                                              
                        64.9      66.1    68.0
                                              
Creditors and         (36.4)    (36.6)  (41.9)
provisions
                                              
                        28.5      29.5    26.1
                                              
Net assets              63.5      62.3    59.7
                                              
                                              
Share capital            4.4       4.4     4.4
                                              
Reserves                59.1      57.9    55.3
                                              
Shareholders' funds     63.5      62.3    59.7
                                              
                                          
The financial information for the year ended 31 December 1999 is an abridged
version of the full accounts for that year, which received an unqualified
report from the auditors and which have been filed with the Registrar of
Companies.
                                          

Group Cash Flow                                         
Unaudited                                               
                                      First    First    Full
                                       half     half    year
                                       2000     1999    1999
                                         £m       £m      £m
                                                            
Operating profit                        9.6     13.1    26.0
                                                            
Depreciation and amortisation           1.5      1.2     2.7
                                                            
(Increase)/decrease in stock          (1.2)      1.7     1.0
                                                            
(Increase)/decrease in debtors        (2.4)    (4.4)     0.7
                                                            
Decrease in creditors                 (0.2)    (2.8)   (4.5)
                                                            
Net cash flow from operating            7.3      8.8    25.9
activities
                                                            
Returns on investments and              0.5      0.6     0.9
servicing of finance
                                                            
Taxation                              (3.0)    (2.9)  (10.3)
                                                            
Capital expenditure                   (2.8)    (0.7)   (2.5)
                                                            
Acquisitions and disposals            (0.5)   (13.9)  (14.9)
                                                            
Dividends paid                        (6.7)    (6.0)   (9.8)
                                                            
Issue of ordinary share capital           -      0.3     0.4
                                                            
Decrease in cash and term deposits    (5.2)   (13.8)  (10.3)