Tthe Group has revised its guidance for organic growth in sales to between 3% and 5%.
Second-quarter preliminary data point to organic growth in sales of close to 5% for the first half of 2017, and an operating margin before non-recurring items of between 8.8% and 9% of sales after factoring in the negative impact of reclassifying the amortization of revalued intangible assets* in operating income before non-recurring items. The Group's forecasts significantly exceed market expectations.
As a result, the Group has revised its guidance for organic growth in sales to between 3% and 5% versus 0% to 2% previously announced, and is expecting growth in its operating margin before non-recurring items of between 80 and 130 basis points compared with 50 to 100 basis points previously announced.
The Group will publish its results for the first half of 2017 on July 31 after market close.