Financial Highlights

2018 Half Year Results

 

HY 2018

HY 2017

 % change

 OCC** % change

Order intake*** £364.7m £334.2m +9.1% +13.3%
Revenue £331.0m £299.7m +10.4% +14.8%
Adjusted* operating profit £65.4m £54.4m +20.2% +25.1%
Adjusted* operating margin 19.8% 18.2% +160bps +160bps
Profit before tax £54.7m £48.8m +12.1% +17.2%
Adjusted* profit before tax £64.3m £52.0m +23.8% +28.9%
Basic earnings per share 4.7p 4.3p +10.3% +15.3%
Adjusted* basic earnings per share 5.6p 4.4p +27.0%  +32.3%
Interim dividend 2.20p 2.05p +7.3%  -

 
Note:
* Adjusted figures exclude the amortisation of acquired intangible assets and other adjustments, comprising restructuring costs and a credit arising from the closure of the UK defined benefit pension scheme to future accrual (see note **).
** OCC is organic constant currency results excluding acquisitions and restated at 2017 exchange rates.
*** Order intake represents the value of orders received during the period.

Summary

  • Market outlook remains positive
  • Strong order intake, +13.3% OCC
  • Revenue growth +14.8% OCC
  • Adjusted operating margin improvement, +160 bps
  • Growth acceleration plan review phase complete, transitioning to implementation phase
  • Management expectations for the full year OCC outcome unchanged