Financial
Half year results in line with revised management expectations
Revenue of £141.6m (2014: £147.4m)
Adjusted* profit before tax, before one-off exceptional item, of £2.4m (2014: £10.7m)
Profit before tax, before one-off exceptional item, of £1.3m (2014: £9.9m)
Goodwill impairment of £88.4m (2014: nil) in the period - a non-cash charge - reflecting challenging industry conditions and profit decline
Reported loss before tax, after exceptional item, of £87.1m (2014: profit of £9.9m)
Adjusted EPS of 1.1p (2014: 4.3p) / Reported LPS, after exceptional item, of 43.6p (2014: profit of 3.9p)
Net debt at 31 December 2015, a high point in the annual cycle, of £12.3m (2014: £12.1m)
Interim dividend of 1.0p per share proposed (2014: 2.0p), subject to shareholder and Court approval of a capital reduction. Board commitment to full year dividend of 2.5p per share
