Highlights included:
Group turnover of GBP1.99 billion, up 12.9% (1999: GBP1.76 billion)
Profit before tax, before investment in Biomni Ltd, of GBP59.1 million
(1999: GBP75.1 million)
Strong recovery in second half after difficult trading conditions earlier in the year
Profit before tax in second half, before Biomni Ltd, up 79.4% on first half and 10.4% on the second half of 1999
Share of operating losses in Biomni Ltd of GBP3.6 million
EPS (diluted) of 20.8p (1999: 28.1p)
Dividend unchanged at 2.9p per share
UK business restructured into new operating divisions under direction of new internal COO appointment, Chris Webb
Ron Sandler to succeed Philip Hulme as Chairman
Mike Norris, Chief Executive, commented:
We had a challenging start to 2000 but market conditions improved as the year progressed. Profitability in the second half was ahead of the corresponding period of 1999. Trading in the first few weeks of the current year has been in line with our expectations. Now that the millennium is behind us we are confident of growth prospects for the Group.
