Results Highlights

• Group turnover* up 4% to £3,632.3 million (2009: £3,493.6m)
• Organic turnover growth* of 2%
• PBITA* up 3% to £238.1 million (2009: £230.8m)
• PBITA margin* held at 6.6% (2009: 6.6%)
• Operating cash flow generation of 72% of PBITA (2009: 75%)
• Adjusted earnings per share increased 4.5% to 9.3p (2009: 8.9p) at actual and constant exchange rates 
• Interim dividend up 5% to 3.17 pence per share, DKK 0.2877 (2009: 3.02p/DKK 0.2599)

* at constant (2010) exchange rates

Nick Buckles, Chief Executive Officer, commented:

“This is a solid set of results, with operating profits up 3% compared to the same period last year and excellent cost control helping margins to hold firm at 6.6%. This demonstrates a good performance in a market environment that continues to be challenging as a result of the slow pace of the global economic recovery and ongoing impact of low inflation and interest rates.

“Our performance is a direct result of our differentiated strategy and the spread and international diversity of our operations, with New Markets growing organically by 7%. Our focus on delivering innovative, outsourced solutions to customers, helping them to drive efficiency and reduce costs within their businesses, will ensure the group remains well positioned for strong long term growth once economies recover.

“We expect organic growth to improve in the second half, whilst we continue to maintain our discipline on margins and cash generation.”

Read the full Half-Yearly Results Announcement.

Presentation of Results

Download the Presentation Slides (PDF 685.6 KB)