Announcement for the Six Months Ended 30 June 2012
|
Key Financial Highlights (£m) |
H1 2012 |
H1 2011 |
Change |
Underlying Growth |
|
Revenue |
488.2 |
495.9 |
-2% |
+2% |
|
Adjusted operating profit |
65.0 |
61.6 |
+6% |
+8% |
|
Adjusted operating margin |
13.3% |
12.4% |
+90bps |
|
|
Adjusted profit before tax |
51.5 |
48.4 |
+6% |
|
|
Adjusted earnings per share |
22.3p |
20.8p |
+7% |
|
|
Free cash flow |
44.7 |
37.6 |
+19% |
|
|
Interim dividend per share |
8.0p |
7.4p |
+8% |
|
|
Statutory |
|
|
|
|
|
Profit before tax |
39.6 |
30.4 |
+21% |
|
|
Basic earnings per share |
17.1p |
12.9p |
+33% |
|
Operational Highlights
- Strategic Review initiatives largely embedded in the new business line divisions
- Higher growth levels in Core Growth with particularly good performance in Facility
- Increase in margin of Manage for Value with flat linen outside the UK making strong progress
- 119% of adjusted profit after tax converted to free cash flow
- Interim dividend up 8% in line with our progressive dividend policy
Iain Ferguson, Chairman of Berendsen, commented
"We are pleased to report a good set of results for the period with the new business line structure operating fully from the start of the year and continued momentum towards achieving our strategic objectives. The board expects first half trading trends to continue for the balance of 2012, resulting in good year on year progress in line with our expectations".
