Charter plc Interim accounts for the six months ended 30 June 2006
12/09/2006
Financial highlights
 | Six months to 30.6.06 | | Six months to 30.6.05 | |
|||
| £m | £m | ||||||
| |||||||
| Revenue | 624.7 | 495.9 | +26% | ||||
| |||||||
| Operating profit | 70.3 | 41.2 | +71% | ||||
| |||||||
| Profit before tax | 68.9 | 44.4 | +55% | ||||
| |||||||
| Profit after tax | 59.2 | 33.0 | +79% | ||||
| |||||||
| Profit attributable to equity shareholders | 56.2 | 27.7 | +103% | ||||
| |||||||
| Net cash/(debt) at period end | 36.2 | (45.9) | |||||
| |||||||
| Earnings per share | Basic | 34.0 p | 18.1 p | +88% | |||
| |||||||
| Adjusted 1 | 32.5 p | 16.1 p | +102% | ||||
1.before exceptional tax credit of £5.3 million in 2006 and gains or losses on retranslation of intercompany loan balances
David Gawler, Chairman, commented:
"I am pleased to announce excellent results for the six months ended 30 June 2006 with adjusted earnings per share of 32.5 pence, an increase of 102 per cent over the comparable period in 2005.
In the period, ESAB, the welding, cutting and automation business, and Howden, the air and gas handling business, achieved strong growth in sales and operating profits compared with the first half of 2005. The continuing improvement in operating margins in ESAB and Howden reflect increased levels of activity, ongoing strength in their key markets and the progress made in improving operational efficiencies.
Given the strong market conditions which are currently being experienced, ESAB and Howden are well placed to achieve growth in the second half of the year over the comparable period in 2005 and the Board now expects that the full year’s results will be ahead of its previous expectations."
Contact
Andrew Fenwick; Pamela Small, Brunswick +44 (0) 20 7404 5959
Michael Foster, Chief Executive; Robert Careless, Finance Director +44 (0) 20 7404 5959
View the Full announcement.