Financial highlights
Financial performance measures as defined by the Group
- Sales increased to £9.6bn, up 4% on a constant currency basis.
- Underlying EBITA increased by 11% to £945m, or 5% on a constant currency basis.
- Underlying earnings per share increased by 14% to 19.8p.
- Operating business cash flow of £277m.
- Net debt of £1.7bn.
- Order intake increased by £3.6bn to £10.7bn and includes award of a production contract for the initial batch of three Type 26 frigates.
- Order backlog increased to £42.3bn after adverse exchange translation of £0.4bn.
Financial performance measures defined in IFRS
- Revenue increased to £9.0bn, up 3% on a constant currency basis.
- Operating profit increased by 11% to £865m, or 5% on a constant currency basis.
- Basic earnings per share increased by 36% to 17.5p.
- Net cash flow from operating activities of £341m.
Other financial highlights
- Group's share of the pre-tax accounting net pension deficit reduced to £5.9bn (31 December 2016 £6.1bn).
- Interim dividend increased by 2% to 8.8p per share.
