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Wewill discloses baseball tickets however continue miguel tejada autographed baseball states to buy back shares if and when opportunities arise.Shareholders renewed the Group's authority to purchase up to 10% of issuedshare capital at our AGM in May 2009. Current market conditions are fuelling our pipeline ofpotential acquisitions and we expect to be active in acquiring suitablebusinesses in the second half of the year We remain highly selective. These factors underpin our confidence in continuingto deliver improving margin for the foreseeable future. * Cash flow - the strength of our business model is reflected in ourexcellent underlying cash flow, with £198m (2008: £174m) generated byoperations in the period, representing an operating profit to cashconversion rate of 124% (2008: 124%). Our underlying free cash flowincreased by 20% to £122m (2008: £102m).
We use surplus cash to add value in 3 main ways - through acquisitions, sharebuybacks and dividends:* Acquisitions - acquisitions help us to enter new markets where we can groworganically, strengthen existing market positions and build economies ofscale, or access a new customer base To date in 2009, we have spent £92.7mon 9 acquisitions oriole park at yards . We will continue with our strategy of acquiring small tomedium-sized businesses which are priced at a level which add value for ourshareholders brian roberts autograph . In the period, operating margin (before amortisation) was 12.2%(2008: 11.9%) miguel tejada autograph baseball . This reflects the added value of the services we deliver toclients, the efficient use of our operational infrastructure and thebenefits of our scale brian roberts autographed baseballs . We haveincreased our interim dividend by 17% and we propose to pay 5.6p per share.*underlying profit excludes intangible amortisation of £9.9m (2008: £4.9m) andthe non-cash impact of mark to market positive movement on callable swaps of £3.0m (2008: Nil)**underlying cash flow excludes an exceptional additional pension contributionto the Group Final Salary Pension Scheme of £40m.Building value for shareholdersTo ensure we build value for shareholders on a consistent, long term basis, wefocus on a number of additional key financial measures including:* Margin - our focus remains on generating steadily improving operatingmargin. Underlying earnings per share* grew by 17% to16.92p (2008: 14.46p).Underlying operating cash flow** rose by 14% to £198m (2008: £174m). The majority of ourbusinesses across the Group have performed well and we have secured new andrenewed major contracts worth £814m in the first 6 months of the year.In the 6 months ended 30 June 2009, turnover increased by 11% to £1,311m (6months to 30 June 2008: £1,182m).
Of this increase, 8% growth was organic and3% was generated through acquisitions brian roberts autographed baseball . Underlying operating profit* rose by 14%to £159.6m (2008: £140.6m) and underlying profit before taxation* increased by18% to £141.7m (2008: £120.2m) miguel tejada autographed baseball . Weare now focused on building a strong platform for continued growth in 2010 andbeyond."For further information:The Capita Group PlcTel: 020 7799 1525 Paul Pindar, Chief Executive Shona Nichols, Corporate Communications DirectorCapita Press Office Tel: 020 7654 2399Financial DynamicsTel: 020 7269 7121 Andrew Lorenz The Capita Group PlcHalf year results for the 6 months to 30 June 2009 Capita, the UK's leading business process outsourcing ("BPO") and professionalservices company, has made good progress in 2009 brian roberts autograph . Our operational performance isconsistently strong providing an excellent background for further expansion.Demand for outsourcing across our chosen markets continues to be buoyant,generating an encouraging volume of opportunities .
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