The business performance and statutory results are summarised below. The commentary and tables in this Interim Report are on a business performance basis unless otherwise stated. Business performance results are stated before exceptional items and goodwill amortisation unless otherwise noted. Management believes that exclusion of these items provides a better comparison of business performance for the periods presented. All growth rates are stated at constant exchange (CER) unless otherwise noted.

Business performance
	6 months to 30 Jun 03 £m		6 months to 30 Jun 03 £m		Growth at constant exchange rates £m
Sales*	808		812		6	#
Operating profit	141		165		5
Profit before tax	140		159		8
EPS	13.7	p	15.5	p	7
Dividend per share	1.85	p	2.65	p	8

Sales up 6%^# to £808 million, profit before tax up 8% at £140 million, earnings per share up 7% and dividend per share up 8%

Adverse impact of foreign exchange on first half profit before tax of £29 million

Growth in earnings per share at constant exchange rate expected to be 8-10% for full year

Statutory results
	6 months to 30 Jun 03 £m		6 months to 30 Jun 03 £m		Growth at constant exchange rates £m
Sales*	808		812		0
Operating profit	77		144		(47	)
EPS	6.4	p	14.9	p	(57	)

Statutory results show growth at actual exchange rates after charging restructuring costs of £41 million (2002 – £nil) and after goodwill amortisation of £22 million (2002 – £15 million)

^*Turnover including share of joint venture
^#Denotes ongoing business growth excluding discontinued products