In overall terms the trading for 2015 was good, albeit the shape of progress varies a bit from our expectations at the division levels. Headline operating profit is £0.5m light and interest higher but associate income is £0.8m better meaning PBT is essentially in-line. EPS has beat despite a higher share count as tax was markedly lower than expected due to higher profits on the US where the Company is able to utilise tax losses. Businesses with minorities (US, Aus, Germany, Italy, Brazil) perfor ....
