Strong European Performance
Europe saw a 5% revenue increase organically and a 34% organic increase in adjusted operating profit, with operating margins improving by 330 basis points to 15.6% due to favorable product mix and efficiency improvements.
Cash Conversion Success
Achieved a strong cash conversion rate of 135% in the first half, contributing to a GBP 36 million reduction in net debt since June last year.
Aerospace & Defense Growth
Continued strong momentum in Aerospace & Defense, with record order intake expected for the European business this year.
Components Business Restructuring
Strategic review of the Components business underway, with a new management team focusing on performance improvement and market positioning.