Half Year 2019 Serco Group PLC Earnings Call Transcript
Welcome to the Serco 2019 Half Year Results. My name is Rupert Soames, and I am Chief Executive. And I know this is a very busy day for you all, so we're going to try and rattle through. But I do want to spend time, if possible, with Kevin Craven, who runs 40% of our business, runs the U.K. business, and he's going to give a specific section on the U.K. business.
So it's been a good first half, actually, pleased with the first half. It's been building on the inflection point that we saw in 2018, good trading and financial performance, revenue up 6% at constant currency, of which 4% was organic. This is the first period since 2013 that we've actually achieved some organic growth. Underlying trading profit of GBP 51 million, up 29% at constant currency or 25% excluding the beneficial impact of IFRS 16 on the UTP. Underlying EPS, up 35%. And free cash flow by a maths whisker turned positive again for the first time since 2014. But strikingly, a very, very strong order intake in the first half. GBP 3.3 billion of order intake and 2019 will,
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