Risks and Uncertainties.

The principal risks and uncertainties to which the group is exposed are unchanged from those identified in our 2011 annual report. The principal risks and uncertainties, together with the group’s strategies to manage them, are set out in the Risks and Uncertainties section of the annual report. They are:

Strategic

  • Failure to identify new business
    opportunities
  • Inability to deliver anticipated
    benefits from acquisitions
  • Technological change
  • Changes to future
    environmental legislation

Operational

  • Changes to health, safety, environment
    and other regulations and standards
  • Recruitment and retention of high
    quality staff
  • Availability of raw materials
  • Security
  • Intellectual property

Market

  • Commercial relationships
  • Global political and economic
    conditions

Financial

  • Movements in raw material prices
  • Pension scheme funding