The Group's performance was resilient in the first half, with business improvements mitigating the sharp cutback in oil & gas activities.

No upturn is anticipated in the second half in oil & gas and general industrial demand is expected to remain soft. However, the second half will benefit from the early results of restructuring and further progress in aerospace and automotive together with continued growth from the Group's specialist technologies.

The Board is confident that management's continued focus on business improvement will generate good returns throughout the cycle.

S.C. Harris Group Chief Executive
30 July 2015

D.F. Landless Group Finance Director
30 July 2015