Sagentia Group plc Announces Trading Results for the Second Half Ended December 31, 2014; Provides Earnings Guidance for the Year Ended December 31, 2014
The company announced the operating profit is anticipated to be ahead of the board's expectations at the time of the interim results, due to the mid-year correction in the sterling-dollar exchange rate. For the year as a whole, the negative FX rates in 2014 mean that the Board anticipates that it will report adjusted operating profit below the 2013 level of £5.7 million but would have exceeded this comparator on a constant currency basis. The group's debt of £8.8 million at 31 December 2014 is secured only on the freehold property in Harston, which has a current carrying value of £13.6 million.