We are pleased to report that 2005 saw the Group maintain its overall trading activity at the same level as the previous year.  Profitability was slightly lower as a consequence of investing in the development of our pre-cast twin wall system being promoted by John Doyle Construction and of slightly lower volume through Ibex.

As we look forward into 2006, we do so with the benefit of our strongest ever order book and confident of growth, both in turnover and profitability.

Our regional business units continue to contribute to this growth as they consolidate and develop local relationships built on our core strengths of delivery and quality of service.

Our Health and Safety performance has continued to be excellent but we strive to improve still further and are engaged in industry-wide initiatives to achieve this.

Our involvement with academia continues with particular pride being drawn from the blossoming of the Constructionarium initiative which we co-initiated in 2002.

As always, I would like to thank all of our dedicated staff and workforce for their efforts and our clients and suppliers for their continued support.  I look forward to us all enjoying a successful 2006.