Before I finish, I should like to say a few words about the implications of IFRS.
It will have limited impact on Boots Group accounts.
The most significant changes are a higher pension charge as indicated in May, similar to the FRS17 charge estimated for 05/06, and the removal of dividends declared but not approved as a liability from the balance sheet. Changes relating to operating leases will have limited impact.
IFRS will first affect interims next year but, we intend to provide a comprehensive analysis of the 04/05 figures for comparative purposes in May 2005.
