Ann: RXP - Ceasing to be a substantial holder, page-7

Guys I have pasted below recent results.

Annualised Numbers for the periods ending.
June 2015 Dec 2015 June 2016 Dec 2016 June 2017

$Sales in millions 78,867 97,103 127,058 141,847 140,504
Profit Before Tax 10,446 15,515 15,653 16,338 16,646 (approx)

They are running faster but not enough is dropping to the bottom line. Since Dec 2015 the annual turnover has risen say 40% but the PBT has gone up a dis-proportionally smaller percentage. Their ROE has gone from 15.8% to 16.4% over the same period where as their EPS has gone from 7.93 Dec 2015 to 8.3 June 2017. Not exactly exciting and one of the reasons I have not jumped back on board. It has been on my watchlist since selling out in June 2016. JMT