During 2010, we completed our strategic review, which is now being implemented.

The strategy builds on the group's well-invested capital base and strong market position. Through a greater focus on our core, higher margin and higher growth businesses and by improving sales processes, we intend to grow revenue at 1%-2% above GDP and grow underlying earnings in high single digits over the medium term.  We see growth opportunities in expanding our customer base, primarily through converting to rental those businesses which have yet to adopt the full service rental model.

Greater focus will be applied to improving return on invested capital and the group intends to deliver a post tax return in double digits over the same medium term period.

As well as capturing improved organic growth, there is scope for continued growth through bolt-on acquisitions and to play an active role in the consolidation of the industry.

To promote a ‘one company' vision both internally and externally, to more closely align the group with its main operating brand and to capitalise on the benefits of shared knowledge and experience, we have changed the group name to Berendsen plc from The Davis Service Group Plc. However, our local brands, such as Sunlight in the UK, will be retained as they continue to have strong market recognition.

In summary, the group's objectives are to:

• become the market-leading provider of textile services in its chosen markets and geographies
• deliver sustainable organic growth of GDP + 1%-2%
• leverage revenue to grow earnings per share in high single digits
• target cash conversion of at least 100% and achieve double digit return on invested capital (post tax)
• maintain a progressive dividend growth policy