Results of discontinued operations

6 Months Ended

Jun. 30, 2014

DiscontinuedOperationsAndDisposalGroupsAbstract

Results of discontinued operations Disclosure

8.Resultsof discontinued operations

Following the divestment of the Company's DERMAGRAFT business in January 2014, the Company recorded charges of $5.2 million and $27.9 million in the three and six months to June 30, 2014 respectively, primarily relating to costs associated with the divestment. These costs have been presented within discontinued operations in the consolidated income statement.

The operating results associated with the DERMAGRAFT business have been classified as discontinued operations in the consolidated statements of income for all periods presented. The components of discontinued operations which relate to the DERMAGRAFT business are as follows:

	3 months to	3 months to	6 months to	6 months to
	June 30,	June 30,	June 30,	June 30,
	2014	2013	2014	2013
	$’M	$’M	$’M	$’M
Revenues:	_______________	_______________	_______________	_______________
Product revenues	-	22.2	1.9	40.7
	_______________	_______________	_______________	_______________
Loss from discontinued operations before income taxes	(8.2)	(48.9)	(43.9)	(281.3)
Income taxes	3.0	16.1	16.0	32.3
	_______________	_______________	_______________	_______________
Loss from discontinued operations, net of taxes	(5.2)	(32.8)	(27.9)	(249.0)
	_______________	_______________	_______________	_______________

The loss from discontinued operations before income taxes in the six months to June 30, 2013 includes a charge of $191.8 million, being the proportion of the Regenerative Medicine (“RM”) reporting unit goodwill impairment charge that related to the DERMAGRAFT business.