Highlights
Momentum on strategic objectives maintained; invested for growth
Underlying Core Growth revenue up 2%
Underlying adjusted operating profit in line with prior year after further plant consolidation in UK Workwear of £2.1 million (£1.2 million) and investment in sales resource of c.£1.5m
Underlying adjusted operating margin before investments improved by 20bps
Adjusted Group earnings per share of 25.0p (27.5p); impacted by strength of Sterling
Free cash flow of £27.2m; expect to achieve c. 100% conversion for the full year
Interim dividend up 5% to 10.0p reflecting confidence in good underlying momentum
Iain Ferguson, Chairman of Berendsen, commented:
"We are pleased to report good operational progress for the period in line with our expectations and continued momentum towards achieving our strategic objectives. Our reported results were adversely impacted by currency translation and, although this is likely to persist, the Board expects to achieve a further year of good underlying progress in 2015."
