| 2007 Interim Results Summary | 2007 €'000 | 2006 €'000 | % |
|---|---|---|---|
| Group revenue | 838,456 | 714,680 | 17.3 |
| *Group operating profit | 57,342 | 45,955 | 24.8 |
| Share of associates & joint venture | 12,998 | 10,864 | 19.6 | *Operating profit incl. associates | 70,340 | 56,819 | 23.8 |
| Finance cost | (14,297) | (7,444) | 92.1 |
| *Pre tax profits | 56,043 | 49,375 | 13.5 |
| *Profit for the period | 47,520 | 41,958 | 13.3 |
| *Adjusted fully diluted EPS (cent) | 37.15c | 33.13c | 12.1 |
* before intangible amortisation and exceptional items
Chief Executive Officer's comment:
Commenting on the 2007 Interim performance, IAWS Group Chief Executive Officer, Owen Killian said:
"IAWS Group has had a good start to 2007 with satisfactory growth being achieved across the business. In November 2006, the Group made its largest ever acquisition, acquiring Otis Spunkmeyer in the US, an excellent strategic fit. IAWS is now a market leader in two complementary growth categories in the North American value added bakery market. Origin Enterprises plc, the vehicle created during the period to focus on the original businesses of the Group, delivered a very satisfactory performance in the first half. The Group is examining a number of strategic options for the future development and related funding of this business."