Interim results for the six month period to 30 June 2010.
Like-for-like operating income up 3% to £29.9m (2009: £29.1m)
Headline operating profit up 25% to £3.3m (2009: £2.6m)
Headline operating margins improve to 10.9% (2009: 8.9%)
Interim dividend up 5% to 0.525p (2009: 0.50p)
Net debt at 30 June 2010 down to £11.7m (2009: £14.8m)
Significant number of material new international client wins in private sector
Good revenue visibility and project pipeline for second half
New Manhattan office open and already profitable – platform for wider US pharmaceutical market research
(Like-for-like comparisons remove the impact of acquisitions and discontinued operations)
(Headline operating profit is stated before exceptional charges, impairment charges and acquisition related charges)
Mark Scott, Chief Executive, commented:
“We are now seeing a pick up from our clients in the private sector across a range of industries and we are benefiting from our strong long term relationships and international research capabilities, particularly in the pharmaceutical sector.
“We have started to carefully organically expand the business again, with a particular focus on health related research and consulting, outside the UK, where we can achieve sustained growth.
“Our focus on innovation, cultivating our talent and growing our core client relationships means we will have a strong 2010 and beyond.”
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