Engineer IMI reported a better-than-expected full-year profit, helped by strong sales across its businesses, and said it was on track for further progress in 2012.

IMI said on Friday that trading patterns had remained stable so far this year, adding that it had seen no material changes in trends over the last few months.

The company, which makes power-generation equipment and valves for drink dispensers, said 2011 adjusted pretax profit rose 19 percent to 363.4 million pounds ($580 million), coming in above consensus estimates of 344 million pounds.

Sales at Birmingham-based IMI rose 12 percent to 2.13 billion pounds, in line with expectations, according to a Thomson Reuters I/B/E/S poll of analysts.

The results were boosted by a 27 percent rise in sales at IMI's Severe Service unit, which now accounts for over a quarter of total group sales, as demand for valves in liquefied natural gas applications remained strong.

While margins at the unit dropped to 15.5 percent from 17.3 percent last year, overall group margins rose to 17.5 percent from 16.7 percent, the company said.

Shares in the company closed at 970 pence on Thursday, valuing the business at nearly 3.15 billion pounds.

($1 = 0.6266 British pounds)

(Reporting by Adveith Nair; editing by Rhys Jones)