Half Year Results 2017
OCC** % change
|Adjusted* operating profit||£54.4m||£50.7m||+7.3%||-3.7%|
|Adjusted* operating margin||18.2%||19.2%||-100bps||-70bps|
|Adjusted* profit before tax||£52.0m||£50.1m||+3.7%||-7.5%|
|Adjusted* basic earnings per share||4.4p||4.3p||+4.2%||-7.3%|
|Profit before tax||£48.8m||£38.3m||+27.4%||-|
|Basic earnings per share||4.3p||3.3p||+32.1%||-|
*Adjusted figures exclude the amortisation of acquired intangible assets and adjustment for contingent consideration.
**Organic Constant Currency (“OCC”) or underlying results exclude acquisitions and are restated at 2016 exchange rates.
As in prior years we anticipate a second half weighting and consequently expect margins to be ahead of those in the first half. Overall we anticipate that full year margins will be similar to the prior year. Based on our project visibility, current order book and its anticipated conversion to revenue, management expectations for the full year remain unchanged.