Sir Nigel Rudd
Chairman
Notes
Good morning. I am Nigel Rudd.
Can I start off by welcoming you to our interim results meeting.
I have with me Richard Baker our Chief Executive and Jim Smart our Chief Finance Officer and they will be presenting to you in just a moment.
Since our last results meeting we have announced two major transactions that help transform the Group.
First, the proposed sale of BHI to Reckitt Benckiser. The board are very pleased with the way that management ran the process, very pleased with the price achieved and delighted with the ongoing commitment to manufacturing in Nottingham which reflects well on the efficiency of these operations.
Second, our proposed merger with Alliance UniChem. Since the announcement, we have been busy explaining our plans for the new company and the benefits of the merger to both sets of shareholders. Today, we are even more encouraged about the prospect of creating a major new international force in healthcare provision.
But this morning is all about our interim results. Everyone here knows how tough it is out there on the high street. Against that background, to deliver a flat underlying like for like sales performance in the first six months is, I believe, good performance especially as we have controlled costs, managed our gross margin effectively and improved our working capital position.
On that note let me hand you over to Richard to take you through today’s agenda.
