IMI's profit rose 3.9% last year in tight sector

IMI PLC posted a 3.9% rise in its profits for the 1998 year. The company's profits reached 152.2 million ($244.5 million) for the 1998 year, before tax and exceptional items. In 1997, IMI posted 146.5 million pound sterling. Analysts had predicted that the company would post between 148 million pound sterling and 154 million pound sterling for the year. IMI is an engineering firm based in the UK.