Financial highlights
Revenue
Revenue up 0.8% to £88.9m (H1 2012: £88.2m)
Like for like revenue decline of 0.5%
Investment plan in place to stimulate top line growth
Multi-office revenues up to 50% of Group revenues, with 2% like for like growth
Digital revenues up to 24% of Group revenues, with 9% like for like growth
Middle East and Asia Pacific like for like revenue growth at 7%
Profits before highlighted items
Operating profits of £12.4m (H1 2012: £13.7m)
Operating margin before central costs 17.9% (H1 2012: 20.5%)
Operating margin post central costs 14.0% (H1 2012: 15.5%)
Profit before tax of £10.6m (H1 2012: £11.6m)
Diluted earnings per share
Before highlighted items at 3.1p (H1 2012: 3.5p)
After highlighted items at 2.5p (H1 2012: 3.1p)
Cash flow and net debt
Cash flow from operating activities of £3.0m, representing a cash conversion of 24% (H1 2012: 57%)
Net debt at £69.0m (31 December 2012: £66.9m)
Dividend
Interim dividend of 1.0p (H1 2012: 1.0p)
