| 6 months to 30th September |
2003 £M |
2004 £M |
|
|---|---|---|---|
| Sales | 2,498 | 2,574 | +3.1% |
| Operating profit | 268 | 205 | - 23.6% |
| Interest | (1) | (6) | |
| Profit before tax and exceptionals | 267 | 199 | - 25.7% |
| Exceptional items | 15 | (52) | |
| Effective tax rate | 31.5% | 32.0% |
Good morning.
I would like to start with a summary of group results in the first six months of the year. Group sales were £2,574 million, up 3.1%.
In line with our plans, operating profits at £205 million were down by nearly a quarter.
The exceptional item includes £55 million arising from the exit from Dentistry, Chiropody and Laser Eye Care announced in mid September.
The group's effective tax rate is slightly up at 32.0%.
