| Half
year 2002 |
Half
year 2001 |
|
 |
||
| Sales | £223.2m | £276.9m |
|
||
| Operating profit* | £18.5m | £31.2m |
|
||
| Profit before tax* | £14.2m | £25.1m |
|
||
| Earnings per share* | 9.3p | 15.1p |
|
||
| Dividend | 3.9p | 3.75p |
|
||
| * before exceptional
items and goodwill amortisation 2001 figures have been restated following adoption of FRS 19 |
||
- Respectable second quarter after weak first quarter
- Management actions:
- Efficiency programmes delivering substantial
savings
- Gross margins maintained
- Presence enhanced in developing manufacturing
economies
- Strong cash generation – 90% conversion of operating profit
- Acquisition of Philips Analytical will provide immediate
earnings-enhancing contribution
- Dividend increased by 4%
 |
Commenting on the results, Hans Nilsson, Chief Executive, said: “We delivered a respectable second quarter after a weak first quarter as demand improved. Our focus on customers, together with continued emphasis on operational efficiencies, combined with the benefits from the Philips Analytical acquisition, provide a sound platform for the second half and beyond.”
|