Constant Currency sales up 2.3%
· Consumer Care up 0.3%: stronger second quarter reverses first quarter declines
· Performance Technologies up 4.8%: Strong underlying growth in Asia plus Sipo
· Industrial Chemicals up 5.3% with lower underlying sales countered by the Sipo acquisition
· Underlying sales growth in New and Protected Products (NPP) and tight control of costs sustaining margin growth in core divisions
· NPP +8%, Differentiated +1%, Tail: -11%
· Consumer Care return on sales increased to 32.6% (H1 2013: 31.7%)
· Performance Technologies return on sales increased to 18.9% (H1 2013: 18.5%)
· 5 of 8 core sectors achieved their underlying sales growth target in quarter two
· Significant impact from currency on results
· Currency translation reduces sales by £38.3m (6.8%)
· Currency translation and transaction costs reduce operating profit by £11.4m
· Organisation structure change
· Three business groups announced in May covering Personal Care, Health Care & Crop Care and Performance Technologies & Industrial Chemicals
· Each combines sales, marketing and research resources into dedicated global teams to accelerate sales growth
· Partnership with Par Pharmaceutical announced
· £99.2m free cash flow generation
· Interim dividend increased 1.7% to 29.5p
