Huntsworth plc, the healthcare communications and public relations group, today announces its interim results for the six months to 30 June 2015.
Paul Taaffe, Chief Executive of Huntsworth, said:
"Our focus in the first half of 2015 has been to improve the competitiveness of all operations in the Group. Every business has been reviewed to determine which businesses are delivering, or could deliver, sustainable profit growth. The impact of the restructuring actions already implemented, and the reinvestment of some of the savings, should see Huntsworth Health continue on its double-digit growth trajectory, and Grayling return to stronger profitability as it exits 2015."
Financial highlights1
Revenue
Revenue before highlighted items £83.2m (H1 2014: £83.1m; H2 2014: £81.6m)
Like-for-like2 revenue decline of 0.7%; constant currency revenue decline of 2.7%
Profit before highlighted items
Operating profit of £6.3m (H1 2014: £8.9m; H2 2014: £9.3m)
Operating margin before central costs 11.9% (H1 2014: 14.6%)
Operating margin post central costs 7.6% (H1 2014: 10.7%)
Profit before tax of £5.3m (H1 2014: £7.7m)
Loss after highlighted items
Operating loss of £44.8m including Goodwill impairment of £48.8m (H1 2014: profit £7.9m)
Loss before tax £45.9m (H1 2014: profit £6.3m)
Cash flow and net debt
Cash flow from operations before highlighted items of £7.3m (H1 2014: £4.0m)
Cash flow from operations after highlighted items of £5.8m (H1 2014: £3.7m)
Net debt of £33.5m (30 June 2014: £35.5m; 31 December 2014: £35.6m)
Diluted earnings/(loss) per share
Earnings per share before highlighted items at 1.2p (H1 2014: 1.8p)
Loss per share after highlighted items at 13.5p (H1 2014: 1.4p earnings per share)
Dividend
Interim dividend of 0.5 pence per share (H1 2014: 1.0 pence)
