Some news from the BIS business in Munich. Last year the group reported sales up 40% on 2006 at £1.26 billion with 23% of the growth delivered by sales of the existing companies in the business in 2006, with the balance a contribution from acquisitions made in 2007 [such as BIS OHARE]. Pre tax profit was £70m, up 70% on 2006 which itself was a record year for the Industrial Services division.

Very positive performance for the Bilfinger Industrial Services division and the reason why the parent company continues to finance additional acquisitions and investment in the services business. In the UK we are being encouraged to progress identification of new opportunities to acquire businesses and investment in our operating companies to continue our growth strategy.

To summarise the benefits of growth and the success that has been achieved across BIS OHARE in recent years we need only look towards our budget projections for 2008. We are forecasting record sales just short of £50m this year, £20m of which is with customers we had no business with two years ago. These new sales are providing new jobs in the business and greater levels of cash to invest in the future. A great story and one in which every employee contributes towards by helping build a market reputation for safe, productive and high quality services to our customers.