INTERIM FINANCIAL REPORT FOR PERIOD ENDED 30 JUNE 2012
|
Results in brief ($m) |
Underlying results 2012 |
Statutory results 2011 |
% Change |
2012 |
2011 |
% Change |
|
Revenue |
1,094.2 |
1,062.9 |
3% |
1,094.2 |
1,062.9 |
3% |
|
EBITDA |
120.6 |
126.8 |
(5)% |
111.2 |
125.2 |
(11)% |
|
Operating profit |
90.2 |
96.5 |
(7)% |
76.9 |
91.5 |
(16)% |
|
Profit before tax |
71.7 |
84.6 |
(15)% |
58.4 |
79.6 |
(27)% |
|
Earnings per share |
12.0¢ |
14.4¢ |
(17)% |
10.2¢ |
13.7¢ |
(26)% |
|
Return on invested capital |
9.9% |
10.6% |
|
|
|
|
|
Free cash flow |
|
|
|
21.8 |
5.7 |
282% |
|
Net debt (2011: year-end) |
|
|
|
443.9 |
403.6 |
|
|
Dividend per share |
|
|
|
4.20¢ |
3.99¢ |
5% |
(1) Before exceptional items (as defined in the financial statements).
(2) Basic earnings per share.
(3) Underlying operating profit return on average invested capital including goodwill and intangibles amortised or written off to reserves.
(4) Return on invested capital for full year 2011.
(5) Cash generated by operations, plus dividends from associates, less tax, net interest and net capital expenditure.
These definitions as outlined above are consistently applied throughout this interim financial report.
Overview
- A challenging first half with soft markets: US B&GA market down 1%; commercial aviation market down 3%
- Strong growth in Aftermarket Services and Systems
- Improved efficiencies driving operational progress
- Interim dividend increased by 5% to 4.20¢
