As a result, the Group delivered trading profit of GBP102 million significantly below last year’s GBP160 million and a trading margin of 11% which clearly is not satisfactory. However, order intake was strong in the half and additional significant contract awards were achieved that will help underpin the Group’s longer-term performance. Importantly, each of the Group’s sectors enters the second half with a much stronger order book than this time last year. In addition, we have made a good start to delivery of the net cost reduction target of GBP10 million for 2016, with GBP4 million achieved in the period. These savings will act as mitigation against any headwinds we may still have ahead of us. The Group’s total trading profit results in an underlying EPS of 4.4p, in line with IFRS the share count being used in this calculation is weighted according to the number of days that the new shares from the rights issue have been in circulation. It means the full dilution of the rights issue has not yet been seen, although 2015 has been restated for the bonus element of the exercise price. Full details of the EPS calculation and the prospective dilutive impact on EPS of the new shares in issue, is given in the appendices on slide 34. Cash conversion of more than 100% is very pleasing, driven principally by effective controls over capital expenditure, and what I believe is a positive impact of the sustain efforts that have been applied to improved working capital performance for some time. The Group’s net debt position at the end of June of GBP877 million reflects the receipt of the proceeds in the rights issue, including the positive hedging impact.
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The Workforce Innovation & Opportunity Act of 2014 (WIOA) focuses on strategies that facilitate the transition of jobseekers with disabilities to the workplace. To improve available services and facilitate the process of transition, WIOA promotes the coordination of state vocational rehabilitation programs with employment and training services. By aligning workforce development programs with employers’ needs, jobseekers will be better equipped to move into available positions. In the Bureau of Labor Statistics’ Jobs Report released Friday, August 5, the employment-to-population ratio for working-age people with disabilities increased from 27.2 percent in July 2015 to 28.1 percent in July 2016 (up 3.3 percent; 0.9 percentage points). click thisFor working-age people without disabilities, the employment-to-population ratio also increased from 72.6 percent in July 2015 to 73.3 percent in July 2016 (up 1.0 percent; 0.7 percentage points). The employment-to-population ratio, a key indicator, reflects the percentage of people who are working relative to the total population (the number of people working divided by the number of people in the total population multiplied by 100). “For the fourth consecutive month we are seeing an improvement in the employment-to-population ratio for people with disabilities,” noted John O’Neill, Ph.D., director of employment and disability research at Kessler Foundation. “Once again, these gains are outpacing those made by people without disabilities. This pattern is similar to what we saw in the first half of last year.
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