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Engineering company IMI raised its full-year guidance after reporting better-than-expected performance in the third quarter of the year.
The company said it now expected 2021 full year adjusted EPS to be in the range of 88p to 92p.
'This guidance reflects our expected average share position in 2021 of approximately 267 million shares, resulting from the ongoing share buyback,' it added.
Organic revenues in the three months to the end of September were 6% higher than the same period in 2020 and 1% higher on an adjusted basis.
'Trading in the third quarter has been somewhat ahead of our previous expectations and, while markets and supply chains continue to be volatile, demand into the first few weeks of the final quarter remains good,' the company said.
'IMI remains on track to complete the planned £200 million buyback by the end of 2021.'