Pentair Profit Doubles After Combining Business With Tyco UnitRandall Hackley
Pentair Ltd., a maker of water filtration and pump systems, said second-quarter profit more than doubled to $154.1 million from $72.7 million a year earlier after merging in September with Tyco International Ltd.’s flow-control unit.
Revenue also doubled to $1.96 billion, buoyed by water and fluid solutions sales to residential and commercial customers and its valves business, the Schaffhausen, Switzerland-based company with its main U.S. office in Minneapolis said yesterday in a statement. The shares have climbed almost 45 percent over the past year.
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