Resilient First Half Performance
Sales decreased 3% and underlying operating profit 4%, in line with expectations. Free cash flow was GBP347 million, driven by divestments.
Strong Catalyst Technologies Growth
Sales grew 20% to GBP336 million, with operating profit increasing 43% to GBP50 million. The segment benefited from licensing sales more than doubling.
Cost Savings and Transformation Benefits
GBP35 million cost savings in the first half, with a total of GBP155 million to date. On track to deliver GBP200 million by year-end.
Share Buyback Program
Initiated GBP250 million share buyback, with half completed by September 2024.
Strategic Progress in Sustainable Technologies
13 sustainable technology projects, including significant projects in sustainable aviation fuel.