Highlights
Headline profit before tax up 10% and headline diluted earnings per share of 7.3p up 11% (up 2% and 3% respectively at actual currency)
Elster businesses continue to perform strongly
‒ Headline operating profit up 10% and headline operating margin up 2.9 percentage points to 18.9%
‒ Enhanced margins in all businesses
‒ Overall Elster profitability has increased by almost 50% since its acquisition in August 2012
FKI order intake up 5% on last year but trading slower in the first six months
Net debt of £750.6 million, equal to 2.4x EBITDA
IFRS profit before tax up 9% to £69.6 million at actual currency
Return of Capital of £595.3 million (47.0p per share) paid in the period alongside an 11 for 13 share consolidation
Interim dividend of 2.8p (2013: 2.75p)
