At the first half of 2016, earnings within our Steam Specialties business were up 4 pushed by a greater volume of sales in Latin America, especially in Korea and China, and Asia Pacific. M&M Italy which happened in July 2015’s purchase reduced sales. The operating profit margin in our Steam Specialties company was greater at 21.3% organically, compared with 19.2 percent at the first half of this past year, as a result of continuing overhead cost management, lower material costs, the advantages of the steps taken at the first half of 2015 to decrease prices in the united kingdom and USA manufacturing plants along with the one-off gains from Argentina’s powerful devaluation in late 2015.
Revenue within our business increased 17 percent with contributions from all regions and from 10 percent on a natural basis, at constant currency. Acquisitions – Flow Smart Asepco as well as the production and distribution rights of pumps in Japan – have performed integrating to civilization and the company. BioPure achieved double digit growth. Sales increased across products and all industry sectors have contributed. The operating profit margin in Watson-Marlow increased to 32.9 percent from 29.9 percent as a consequence of operational gearing, management of costs and favourable material expenses.
The UK’s EU Referendum on the Group’s implications remain to be viewed; visibility is uncertain once Article 50 of the Lisbon Treaty of the EU is invoked, and much depends upon the results of discussions. However macro signs are obviously a slow-down at UK investments that might lead from the half to a UK project delays, but it’s too early to check this.
As a Team we’re well-placed to reevaluate challenges and capitalise. Greater than 90 percent of Group earnings are generated outside the UK, we’ve got a production base and a diverse customer base across geographies and industries. In the united kingdom, roughly 35 percent of goods are manufactured from the Group as a whole.
We continue to execute our strategy. Our approach concentrates on doing what we already do so that we could achieve and builds on the base of our direct sales company model. We’re currently seeing the advantages of our focus, together with over selling effectiveness, supply chain efficiency improvements and market growth in many of our priority industries. In February our production unit that was sectorised started in Cheltenham, UK.