Difficult economic backdrop impacting a number of our markets, particularly North America
Strong Power Solutions Utility order intake of 875MW
Utility business debtor provision increased by $17m
Good progress around business priorities of customer, technology and efficiency
Interim dividend maintained reflecting confidence in the strength and prospects for the Group
Chris Weston, Chief Executive Officer, commented:
"The trading environment in this first six months has been difficult, with the lower oil price continuing to impact a number of our markets. We are holding our guidance for the full year while recognising the importance of securing key contract extensions and the seasonal weighting of our North American business to the second half.
I am pleased with the good progress we continue to make with our business priorities and the strong level of order intake in Power Solutions Utility to date."