Financial highlights

Half year to
30 June 2013

Half year to
30 June 2012
Headline operating profit2£52.4m£47.3m
Operating profit£50.3m£45.4m
Headline profit before taxation2£50.6m£45.8m
Profit before taxation£48.5m£43.9m
Headline operating cash flow3£46.5m£52.3m
Operating cash flow4£43.5m£49.1m
Net debt£27.1m£16.7m
Basic headline earnings per share520.0p18.3p
Basic earnings per share518.9p17.3p
Interim dividend per share64.4p4.0p
  1. 2012 restated for the adoption of IAS 19 (Revised) 'Employee Benefits', which has the effect of reducing headline operating profit and operating profit by £0.2m, reducing finance charge by £0.3m and increasing profit before taxation by £0.1m.
  2. Headline operating profit and headline profit before taxation exclude the amortisation of acquired intangibles of £2.1m (2012: £0.7m) and acquisition costs of £nil (2012: £1.2m).
  3. Headline operating cash flow is defined as operating cash flow stated before cash flow relating to restructuring of £3.0m (2012: £2.0m) and acquisition costs of £nil (2012: £1.2m).
  4. Operating cash flow is defined as cash generated by operations of £72.1m (2012: £75.7m) less net capital expenditure of £28.6m (2012: £26.6m).
  5. A detailed reconciliation is provided in note 5.
  6. See note 6.