Group Summary
Sales up 5% and underlying PBT 4% lower
Strong growth in Emission Control Technologies (ECT) and good progress in New Businesses
Challenging conditions in Process Technologies (PT) and Precious Metal Products
Actions being taken to reduce costs since half year end, mainly in PT; expect ~£30 million p.a. cost savings starting in Q4
Underlying EPS down 3%
PBT of £330.2m and EPS of 137.9p due to profit of £130.9m on sale of Research Chemicals
Strong balance sheet - net debt (including post tax pension deficits) / EBITDA of 0.7 times
Working capital improved by £386 million and cash flow conversion was 71%
Interim dividend of 19.5p, up 5%
Special dividend of 150.0p (£305 million) following sale of businesses
Full year performance for continuing businesses4 expected to be similar to 2014/15
