Headline operating profit1£99.6m£102.1m
Return on sales216.6%18.0%
Operating profit£94.5m£77.9m
Headline profit before taxation1£97.0m£99.2m
Profit before taxation£91.9m£75.0m
Headline operating cash flow3£91.4m£81.6m
Operating cash flow4£83.2m£73.2m
Net cash£1.1m£12.3m
Basic headline earnings per share537.0p39.5p
Basic earnings per share35.2p29.6p
Ordinary dividend per share615.8p15.1p
Return on capital employed717.1%19.0%
  1. Headline operating profit and headline profit before taxation exclude amortisation of acquired intangibles of £4.5m (2015: £4.2m), reorganisation costs of £nil (2015: £20.0m) and acquisition costs of £0.6m (2015: £nil).
  2. Return on sales is defined as headline operating profit as a percentage of revenue.
  3. Headline operating cash flow is defined as operating cash flow stated before cash flow relating to restructuring of £7.6m (2015: £8.4m) and acquisition costs of £0.6m (2015: £nil).
  4. Operating cash flow is defined as cash generated by operations of £146.3m (2015: £134.5m) less net capital expenditure of £63.1m (2015: £61.3m).
  5. A detailed reconciliation is provided in note 10.
  6. See note 9.
  7. Return on capital employed is defined as headline operating profit of £99.6m (2015: £102.1m) divided by the average of opening and closing capital employed of £582.3m (2015: £538.4m) as adjusted for certain items of goodwill written off. Capital employed is defined as net assets adjusted for net cash/(debt).



Highlights Revenue



(2015: £567.2m)

Headline operating profit


Highlights Operating Profit



(2015: £102.1m)

Dividend per share


Highlights Dividend



(2015: 15.1p)

Headline earnings per share


Highlights Headline Earnings



(2015: 39.5p)