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Going concern

The Group’s business activities, together with the factors likely to affect its future development, performance and position are set out in the Strategic Review page. The financial position of the Group, its cash flows, liquidity position, borrowing facilities and treasury risk management policies are described in the Financial Review page. In addition, note 27 to the financial statements includes details of the Group’s borrowings and financial instruments.

The risks facing the Group are identified and described in the Strategic review page. The Group has considerable financial resources and an advantaged business model that operates across many different customers and suppliers in multiple geographies. As a consequence, the Directors believe that the Group is well placed to manage its business risks successfully despite the current uncertain economic outlook.

On the basis of current financial projections and facilities available and after making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they consider that it is appropriate to adopt the going concern basis in preparing the annual report and accounts.

By order of the Board