28 July 2011 – second quarter results

At constant exchange rates revenue for the second quarter was $8,430m, down 2%.  Core operating profit in the second quarter declined by 10%to $3,322 million  and core earnings per share in the second quarter were down 5% to $1.73.  Reported earnings per share in the second quarter were up 3% to $1.53.    The core earnings per share target for the full year has been increased to the range of $7.05 to $7.35. 

A first interim dividend of $0.85 (51.9p) has been declared, an increase of 21% over last year’s first interim dividend of $0.70.  The amount of the first interim dividend is a reflection of the intent to rebalance the first and second interim dividends, with the aim of setting the first interim dividend at around a third of the prior year dividend, which last year was $2.55.  BUY.