Charter plc - Charter plc - Interim results for the six months ended 30 June 2005 (unaudited)

Charter plc - Interim results for the six months ended 30 June 2005 (unaudited)

28/09/2005

Highlights

		2005	2004
		£m	£m

Revenue		495.9	415.6	+19%

Adjusted operating profit₁		41.2	24.0	+72%

Operating profit		41.2	23.6	+75%

Profit before tax		44.4	16.1	+176%

Profit after tax		33.0	18.1	+82%

Profit attributable to equity shareholders		27.7	16.4	69%

Net debt		45.9	82.2	-44%

		pence	pence
Earnings per share	Basic	18.1	12.2	+48%

	Adjusted ₂	16.1	9.3	+73%

1.before exceptional items (see note 3 of the Interim Report)
2.before exceptional items (see note 3 of the Interim Report) and gains or losses on retranslation of intercompany loan balances

David Gawler, Chairman and Chief Executive, commented today:

“I am pleased to announce excellent first half 2005 results with adjusted earnings per share of 16.1 pence, an increase of 73 per cent. These results reflect the continuing trend of stronger performance following the restructuring of our businesses and strengthening of the Company's balance sheet that has occurred in recent years.

Esab, the welding and cutting business, and Howden, the air and gas handling business, have both achieved strong growth in sales, operating profits and operating margins and are well positioned to make further progress.

In the light of the first half results and strong trading to date, the Board now expects that the full year's results will be ahead of its previous expectations.”

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