Financial Highlights:
- Group revenue, including acquisitions, of £1.42 billion (H1 2011: £1.37 billion) an increase of 4.2%
- Group adjusted profit before tax of £24.0 million (H1 2011: £26.6 million), impacted by additional start-up costs, primarily in Germany, associated with new business wins
- Adjusted diluted earnings per share (EPS) of 11.7p (H1 2011: 12.9p)
- Net funds excluding customer specific financing (CSF) of £101.6 million (H1 2011: £104.3 million)
- Interim dividend of 5.0p (H1 2011: 4.5p) an increase of 11.1%
Statutory Highlights:
- Group profit before tax of £20.8 million (H1 2011: £26.2 million)
- Diluted EPS of 10.0p (H1 2011: 12.7p)
- Net funds after CSF of £83.8 million (H1 2011: £80.9 million)
Operational Highlights:
- Revenue growth of more than 5% in constant currency across all countries with double digit organic revenue growth in Services in all countries
- Contractual Services base increased by 9.4% to £595.0 million (H1 2011: £544.0 million)
- Efficient integration of new Service contract wins in the UK with continued strong UK Services contract pipeline
- Progress made in resolving integration issues relating to new Services contracts in Germany to ensure the earnings potential will be realised
- Continued successful roll-out of Group wide ERP system with operational benefits coming through
- New warehouse and office installations in France, with further fit-out at the new RDC facility, expansion of the Spanish Service desk, as well as new German Service desk
