Results & Reports

Our latest results, for the 6 months ended 30 June 2008, are as follows:

  2007 2008 Change
Order intake £575m £818m +42%
Total revenue £494m £632m +28%
Underlying1 trading margin 16.9% 16.8% (0.1)pts
Underlying1 profit before tax (PBT) £86m £107m +24%
Underlying1 earnings per share (EPS) 5.5p 6.7p +22%
Basic earnings per share 4.4p 5.5p -
Operating cash conversion2 75% 116% -
Interim dividend 1.22p 1.345p +10%

Please click here for our financial highlights and notes

  • Order intake, including UK FSTA programme, drives order book higher to £2.2bn (2007: £1.7bn)
  • Organic revenue growth of 14% across Technology Divisions
  • Underlying EPS growth of 22% or 19% at constant translation exchange
  • Cash conversion, excluding FSTA bid cost reimbursement, well ahead of target at 112%
  • Five strategic acquisitions completed or agreed in period - integration on or ahead of plan
  • Robust balance sheet and considerable financial flexibility

Footnotes

  1. To assist with the understanding of earnings trends, the Group has included within its published statements trading profit and underlying earnings results. Trading profit and underlying earnings have been defined to exclude the impacts of the amortisation of intangible assets recognised on acquisition, the write-up of inventory for pre-acquisition profit, the marking to market of currency instruments not realised in the period and impairments of goodwill. There has been no impairment to goodwill in the current or comparative periods. Trading profit and underlying earnings also exclude portfolio restructuring costs, which comprise exceptional profits or losses arising on disposals actually completed, as well as exceptional costs or profits associated with the restructuring of the Group's business and site integration. Trading profit and underlying earnings also exclude direct costs associated with exceptional terminated acquisitions.
  2. Operating cash flow is defined as cash generated from operations, adjusted for cash flows from the purchase or disposal of fixed assets. Operating cash conversion is defined as operating cash flow as a percentage of trading profit, excluding profit from joint ventures.


2008
Investor Seminar Thursday, 30 October
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Interim Results
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Acquisition of M/A-COM
403 KB PDF icon

2007
Annual Report
2.68 MB PDF icon
Preliminary Results
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Interim Results
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Restated Divisional Results
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2006
Annual Report
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Preliminary Results
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Interim Report
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Interim Results
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2005
Annual Report
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Historical Analysis
22 KB PDF icon
Preliminary Results
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IFRS
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Interim Report
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Interim Results
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Statement of Forms of Proxy June 2005
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Investor Day 7 June 2005
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2004
Annual Report
1.5 MB PDF icon
Preliminary Results
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Remec Defense Acquisition
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Interim Report
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Interim Results
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2003
Annual Report
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Preliminary Results
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Interim Results
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2002
Annual Report
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Preliminary Results
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Interim Results
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2001
Annual Report
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