Summary

* Adjusted figures exclude the headcount reduction costs of £7.0m and the amortisation of acquisition-related intangible assets in 2009 of £1.0m (2008: £0.8m) of which £0.2m relates to Associates (2008: £0.2m).

  • Revenue up 5%, geographically widespread
  • Adjusted operating profit margin of 15.0% (12.0% including severance cost & amortisation)
  • Interim dividend increase of 5% – confidence in future prospects
  • Strong balance sheet with £4.1m net cash
  • Good progress with cost reductions in line with expectations