Highlights
- Turnover up 10% to £35.3 million (2006: £32.1 million)
- Adjusted operating profit up 19% to £3.7 million
(2006: £3.1 million)1
- Operating profit of £3.7 million (2006: £6.8 million)
- Adjusted operating margin improved to 10.5% (2006: 9.7%)
- Operating margin of 10.5% (2006: 21.2%)
- Adjusted PBT up 27% to £2.8 million (2006: £2.2
million)
- Profit before tax for continuing operations of
£2.8 million (2006: £5.9 million)
- Over 80% of the 2008 sales are secured2
- Net debt £20.4 million (31 March 2007: £21.4 million,
30 September 2006: £20.5 million)
Strategic contracts
- China - Near Zero Emissions Coal Programme
- Carbon Trust - ECA Technical Support
- London Development Agency (LDA) - Green 500 Scheme
- Department for Communities and Local Government
- Building Regulations Research Programme
- Defra - UK Pollution Climate Mapping
- TSB/BERR - Emerging Energy Technologies extension
- Defra - Market Transformation Programme (MTP) extension
1Reconciliation of adjusted operating
profit
The adjusted numbers are after taking account of non-recurring items in
the previous half year.
| |
Unaudited
Six months
ended
30 September
2007
£m |
Unaudited
Six months
ended
30 September
2006
£m |
Audited
Year
ended
31 March
2007
£m |
| Operating profit |
3.7 |
6.8 |
9.4 |
| Pensions curtailment charge |
- |
0.5 |
0.8 |
| Pensions past service credit |
- |
(4.6) |
(2.0) |
| Re-financing costs |
- |
0.4 |
0.4 |
| Adjusted operating profit |
3.7 |
3.1 |
8.6 |
2Secure sales are the element of orders
to date that are expected to be delivered in the current year.