Board Review
Summary
The board’s goal is to create a group capable of sustained profit growth. In 2007 we have had success in improving the performance of all of our divisions apart from City Link. However, City Link’s performance in the final quarter of 2007 was unacceptable, as is its outlook for 2008. The impact of City Link on the group’s share price has been significant and our clear priority for 2008 is to improve the performance of that business. However, we must also ensure that we maintain and enhance further the progress that has been made in the rest of the group. Under the leadership of the new senior team we will concentrate in 2008 on operational excellence and the improvement of performance.
To conclude, we asked a lot from our people in 2007 and they are proud of what we have achieved. They are as disappointed as the board about the performance of City Link and, as a group, we are determined to improve our performance in 2008.