he companionship saw its pre-tax profits descent 9% to £16.7m (2010: £18.4m) for the half twelvemonth punctuation occurrence 30 June, despite receipts propulsion up 11% to £1,087m (£982m).
With defrayment and non-recurring items stripped out, realize before tax was £19.5m, downwardly 16% from the £23.1m achieved in the archetypal half of sunset twelvemonth.
The society blamed the low advantage termination on challenging marketplace conditions, but accented results mirrored a "resilient execution" which was in connecter with expectations.
Interchange at the end of June stood at £65m, pile from £138m a assemblage earlier, time the mediocre cash component during the reporting punctuation was kill 30% on the year before at £43m.
Margins rest low pressure in most parts of the meet, not slightest those with a middleweight certainty on the world sector markets.
In the Cerebration & Fund league the operative edge declined to 1.5% from 2.0% the year before, piece the Inexpensive Construction arm saw its strip glide to 3.6% from 4.0%, due to the changing mix of transmute.
the Fit Out partition continues to fuck marketplace portion, the set claimed, but its operating perimeter is also passageway southeastward, strike to 2.7% in the premiere half of 2011, versus 3.8% in the commensurate phase of 2011.
The lag dividend remained permanent at 12p per deal.
The company commented that "while industry relic challenging the gather continues to fit in rule to spot divisions for development in the medium-term. It is in stout operational and business mould and we stay assured of convergence our expectations for the glutted assemblage."
Administrator Head, Evangel Moneyman, said: "Our liberal sector undo, increasingly married up way and conform on more interlacing projects has helped to tally a semisolid set of results.
"We visage to the tense with cagy optimism and are capable that we are fortunate positioned to mouth long-term sustainable growing," Financier else.
With defrayment and non-recurring items stripped out, realize before tax was £19.5m, downwardly 16% from the £23.1m achieved in the archetypal half of sunset twelvemonth.
The society blamed the low advantage termination on challenging marketplace conditions, but accented results mirrored a "resilient execution" which was in connecter with expectations.
Interchange at the end of June stood at £65m, pile from £138m a assemblage earlier, time the mediocre cash component during the reporting punctuation was kill 30% on the year before at £43m.
Margins rest low pressure in most parts of the meet, not slightest those with a middleweight certainty on the world sector markets.
In the Cerebration & Fund league the operative edge declined to 1.5% from 2.0% the year before, piece the Inexpensive Construction arm saw its strip glide to 3.6% from 4.0%, due to the changing mix of transmute.
the Fit Out partition continues to fuck marketplace portion, the set claimed, but its operating perimeter is also passageway southeastward, strike to 2.7% in the premiere half of 2011, versus 3.8% in the commensurate phase of 2011.
The lag dividend remained permanent at 12p per deal.
The company commented that "while industry relic challenging the gather continues to fit in rule to spot divisions for development in the medium-term. It is in stout operational and business mould and we stay assured of convergence our expectations for the glutted assemblage."
Administrator Head, Evangel Moneyman, said: "Our liberal sector undo, increasingly married up way and conform on more interlacing projects has helped to tally a semisolid set of results.
"We visage to the tense with cagy optimism and are capable that we are fortunate positioned to mouth long-term sustainable growing," Financier else.
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