Half year to
30 June 2018
Half year to
30 June 2017
Headline operating profit1£70.1m£61.7m
Return on sales219.0%17.8%
Operating profit£68.2m£59.4m
Headline profit before taxation1£69.1m£60.5m
Profit before taxation£67.2m£58.2m
Free cash flow3£39.4m£42.1m
Basic headline earnings per share427.3p23.6p
Basic earnings per share26.6p22.9p
Interim dividend per share55.7p5.3p
  1. Headline operating profit and headline profit before taxation exclude amortisation of acquired intangibles of £1.9m (2017: £2.3m).
  2. Return on sales is defined as headline operating profit as a percentage of revenue.
  3. Free cash flow is defined as cash generated by operations of £82.6m (H1 2017: £87.3m) less net capital expenditure of £31.0m (H1 2017: £29.7m), net interest paid of £0.9m (H1 2017: £1.2m), and taxation of £11.3m (H1 2017: £14.3m).
  4. A detailed EPS reconciliation is provided in note 6.
  5. See note 7.