Interim Results Announcement - January-June 2008
Very strong organic turnover growth* of 10.5% (2007: 7.5%)
Group turnover* up 19.3% to £2,697.3 million (2007:£2,261.5m)
PBITA* up 19.4% to £174.8 million (2007:£146.4m)
Margin* maintained at 6.5%
Cash flow generation up 35.6% to £132.5 million, 77% of PBITA (2007: 71%)
Adjusted earnings per share increased 26.3% to 7.2p (2007: 5.7p) and by 18% at constant exchange rates (2007:6.1p)
Interim dividend up 30% to 2.75 pence per share, DKK 0.2572 (2007: 2.11p/DKK 0.2319)
Invested £533 million net in capability-building acquisitions and raised £282 million via a share placing
Good performance across all regions and business segments
Excellent progress on the integration of GSL and ArmorGroup
Expect to continue good performance for the full year
* at constant (2008) exchange rates
Nick Buckles, Chief Executive Officer, commented:
“Despite the well-reported difficulties in the economies of a number of international markets, trading is ahead of where we expected it to be at the half year - we have continued to deliver double digit organic growth and profit margins have held firm.
Adjusted earnings per share growth has been very strong at 26.3% and the integration of a number of major capability-building acquisitions is on schedule and on target to deliver the expected benefits and estimated synergy savings.
Overall, we have delivered an excellent performance for the first half of 2008 and we are very confident for the remainder of the year.”
Click here for the full announcement including financial summary.