Rupert Soames, chief executive of Serco, said: "Notwithstanding the well-flagged decline in profits compared with the first half of 2016, trading in the first half of 2017 keeps us on track to achieve our expectations for the full year, and represents an improvement in underlying trading profit
on the second half of 2016.
However, it is financial performance--and growing trading profit
in particular --that validates whether a practice is performing well to prospective buyers.
Both revenue and trading profit
from the rest of Africa rose 43 per cent, boosting group trading profit
from continuing operations by 10 per cent.
THE plumbing supplier reported a first quarter update roughly as expected but its trading profit
falling 21% to PS19m failed to impress.
Its UK arm which represents 10% of group trading profit
and includes Parts Center, Pipe Center, and Drain Center saw earnings fall by 6% to PS90m.
9 per cent, on the year before, while trading profit
in continuing businesses, before exceptional items, rose by 3.
Fiat sharply cut its group targets for the next two years on Tuesday, saying languishing sales in austerity-hit Europe may mean its trading profit
in 2014 is a third lower than it targeted two years ago.
However, its dessert making and ready meals division, Brookes Avana, suffered a pounds 15m fall in trading profit
and a pounds 125m goodwill writedown, which contributed to an overall pre-tax loss of pounds 98.
6 billion), while trading profit
grew 12% to 541 million euros ($699.
12 billion [pounds sterling], group trading profit
increased 25 per cent to pounds 109.