Chief Executive's Report
Andy Hornby
Chief Executive
In 2007, the disciplined execution of our strategy has resulted in good earnings growth for our shareholders despite difficult market conditions. With our multi-brand distribution strength, strong balance sheet and low cost operating platforms, we are well placed to take opportunities presented by these difficult markets and deliver good growth in shareholder value over the next few years.
Our strategy has five key elements designed to create enduring value for shareholders:
- Growing the UK franchise
- Targeted international growth
- Cost leadership
- Capital discipline
- Colleague development
For each of these elements we have a number of key performance measurements which help investors understand the scale and rationale for our ambitions.