Legal

This Business Review is prepared in accordance with the requirements of the Companies Act 2006 and is framed around the principles and guidelines for Operating and Financial Reviews published in the UK by the Accounting Standards Board. Its purpose is to provide information which is significant to understanding the development, performance and position of the Group, the principal risks and uncertainties facing the Group and to include the key performance indicators (KPIs) used by the Group to monitor this development, performance and position. Additionally, the Business Review is intended to highlight trends, where identifiable, in factors which affect the development, performance and position of the Group.

Note:

Throughout the Business Review:

• all figures relate to continuing operations unless otherwise stated
• sales growth is based on sales per day for continuing businesses at constant exchange rates and for like periods
• growth in operating profit, profit before tax and earnings per share are all calculated at constant exchange rates unless otherwise stated

Cautionary statement regarding forward-looking statements

This Annual Report has been prepared for the members of the Company and no one else. The Company, its Directors, employees or agents do not accept or assume responsibility to any other person in connection with this document and any such responsibility or liability is expressly disclaimed. This Annual Report contains certain forward-looking statements. By their nature, these statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. The forward-looking statements reflect the knowledge and information available at the date of preparation of this Annual Report, and will not be updated during the year. Nothing in this Annual Report should be construed as a profit forecast.