Group highlights:
Group revenue up 15%, adjusted operating profit up 2%. Full year expectations remain unchanged
Strong performance from Fit Out, with operating profit up 89% to £10.4m (HY 2014: £5.5m) and good growth expected to continue through the second half
Construction & Infrastructure adjusted operating profit down to £0.3m (HY 2014: £5.9m), impacted by continued challenges from older construction contracts in London and the South. Completion taking longer than previously expected
Urban Regeneration operating profit up to £5.0m (HY 2014: £3.5m) as a consequence of the ongoing and focused, long-term investment in the development portfolio
Improved performance from response maintenance in Affordable Housing, with loss reduced to £0.8m (HY 2014: loss £1.7m) and further progress expected in the second half towards its target break-even position by 2016
Further to the trading update on 7th May, an exceptional charge of £39.4m taken as a write-down against amounts recoverable on two old construction contracts. The charge is non-cash in nature and commercial settlement 'in principle' reached on one of the contracts
Average net debt of £35m reflecting the expected increase in investment in Urban Regeneration and the regeneration activities of Affordable Housing
Interim dividend held at 12.0p per share (HY 2014: 12.0p)
