Engineering firm IMI sees drop in 2017 first-half organic revenue

(Reuters) - British engineering firm IMI Plc (IMI.L) said it expected organic revenue for the first half of 2017 to reflect a similar percentage reduction to the first half of the previous year, due to difficult market conditions.

The company had reported a 5 percent drop in organic revenue in the first half of 2016.

IMI's reported group revenue rose 6 percent rise to 1.65 billion pounds for the year ended Dec. 31. However, excluding favourable exchange rate movements and disposals, group revenues on an organic basis fell 5 percent.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)