2009 Half Year Results Summary

TR: moving steadily from Recovery to Rebuild"

Continuing operationsSix months
ended
30 September
2009
Six months
ended
31 March
2009
Six months
ended
30 September
2008
Revenue£39.85m£45.76m£59.14m
Gross profit£9.81m£10.42m£16.17m
Underlying operating profit/(loss)1£0.06m(£0.37m)£3.71m
Operating profit/(loss)£0.24m(£13.63m)£3.43m
Underlying pre-tax profit/(loss)1£0.00m(£0.70m)£3.24m
Pre-tax profit/(loss)£0.18m(£13.96m)£2.96m
Net Debt£5.57m£8.40m£9.71m

1 Underlying profit/(loss) is calculated before intangible amortisation, impairments, IFRS 2 charges, restructuring costs, sale of associate and settlement claims.

As a Board we remain optimistic about our future business outlook and, although challenging, we are still firmly of the opinion that much of our recovery capabilities remain in our own hands.

Our key objective remains to return this Group back to sustainable profitability through a focus on lean logistics, targeted sales and on-going margin improvement. In addition, we will also be looking not only to build key alliance partnerships, but also to identifying self-managing bolt-on acquisitions within niche markets which will yield further benefits to the business, its customers and its stakeholders.

Malcolm Diamond, Executive Chairman


View the announcement in full