Victoria: tough times but cash coming through and asset support
While revenue declined by 7.8% in the first half from £32.71m and in constant currency terms, by 11.6%, the Group continued to be highly cash generative. Net debt reduced significantly by £1.96m to £9.47m, with net gearing 21.4% at the half-year compared to 26.0% at the year end. Operating profit £522m resulted in operating cash inflow of £3.5m.
Group operating profit fell by 68.2% from £1.64 million to £0.52 million and pre-tax profit was…
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