2018 Half Year Results
OCC** % change
|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%|
* 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.
- 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