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Financial summary

Normalised results

       
  Six months ended   Pro forma
six months ended
 
  30 June 2008   30 June 2007  
Turnover £143.6m   £127.1m +13%
Revenue £113.3m   £103.8m +9%
Adjusted operating profit £9.5m   £8.6m +10%
Adjusted operating margins 8.4%   8.3%  
Adjusted profit before tax £9.1m   £6.6m +38%
Adjusted diluted earnings per share 7.4p   5.4p +37%
Operating profit to cash conversion 207%   180%  
         

Note: Following the change in year end from March to December, we have included like-for-like comparisons between the six months ended 30 June 2008 and the unaudited pro forma six months ended 30 June 2007 to assist with analysis and comparison. The adjusted operating profit excludes intangible asset amortisation of £0.2m (2007: £0.2m). The adjusted profit before tax and diluted earnings per share also exclude the financial instrument credit of £0.2m (2007: credit of £0.1m).

Statutory results

       
 
Six months ended
 
Six months ended
 
  30 June 2008   30 September 2007  
Turnover £143.6m   £120.4m  
Revenue £113.3m   £97.1m  
Operating profit/(loss) £9.3m   (£3.4m)  
Profit/(loss) before tax £9.1m   (£3.8m)  
Profit/(loss) after tax £6.6m   (£5.6m)  
Basic earnings/(loss) per share 7.4p   (6.9)p  
         

Note: Both the normalised and statutory results are for continuing operations only and so exclude the discontinued operations of Mercury Health.