Ann: Chairman's Address to Shareholders , page-4

The AGM was probably the most excited I have seen the board in six years of attendance. The discussion on Mead Johnson and GTC distributorships was most pleasing. I would say based on this that the results are still very conservative. Europe and the USA were singled out as growth areas plus the improved margins accross an expanding portfolio of products. No debt, increased cash flow, secure supply, technology sales, exhange risk management, loyal workforce, reasonable exec pay, increase product trials for new business.

Hmmm just a beautiful set of numbers and KPI's