Performance – in-year I am pleased to report that the Group has continued to make strong progress, achieving good in-year results. This has been achieved against a background of increased investment in business development and technology to give the Group greater competitive advantage in the future. For the ninth consecutive year (including five since Admission to the London Stock Exchange in July 1996), the year to 31 March 2001 continued the Group’s trend of record turnover and profit. Turnover increased by 30% to £674m (2000: £516.8m), including an increase of 16% in organic turnover. Adjusted profit before taxation rose by 14% to £44.0m (2000: £38.5m) and adjusted earnings per share were up 21% at 31.7p (2000: 26.1p). The major acquisitions made in the year to March 2000 – Lambert Smith Hampton and Atkins Benham – have both performed well in their first full year with the Group. Having financed both the fixed and working capital requirements of its organic growth, the Group continues to have a liquid balance sheet, with net cash funds at 31 March 2001 of £11.5m (2000: £7.1m) and committed borrowing facilities in place. In terms of implementing our strategy and achieving in-year results, the period represents a further good performance by our management team and over 12,800 WS Atkins’ people world-wide. Our operations and performance are reviewed in detail in the Review of the Year. to next section - Strategic progress