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As discussed under the heading ‘Outlook’ in Chairman’s statement and Chief Executive’s review, the Group’s end markets are expected to remain challenging during 2010. The principal risks and uncertainties that may affect the Group’s results, cash flows and financial position are discussed in Principal risks and uncertainties.
As stated under the heading ‘Borrowings’ in Liquidity and capital resources, the Group has extended its committed bank funding with a $450 million forward-start committed bank facility that expires in May 2012.
Based on internal forecasts and projections that take into account reasonably possible changes in the Group’s trading performance, the Directors believe that the Company and the Group have adequate financial resources to continue in operation for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis in preparing the Company’s and the Group’s financial statements.
Management regularly provides investors with updates on the Group’s performance and financial position. We publish an interim management statement during the first and second half of the financial year that describes the Group’s performance during the relevant period, its financial position at the end of the period and the effect of any material events or transactions that have taken place. We also publish a half-yearly report that includes an interim management report and condensed financial statements prepared in accordance with IAS 34 ‘Interim Financial Statements’. Additionally, from time to time, the Company may publish trading updates.
All announcements made by the Company to the London Stock Exchange are published on the Company’s website and are furnished to the SEC in the US. |
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