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en We have seen a return to strong growth in personal care and in developing and emerging markets. Performance in Europe improved compared to last year.

en We see continued strong growth in Asia and developing markets, mid single-digit growth in the Americas, and slow growth in Europe.

en We delivered record first-quarter revenue and strong year-over-year growth led by demand for our chips. In emerging wireless markets like China and India, demand for low-end CDMA phones is increasing; in more established markets like the United States, South Korea, Japan and Europe, subscribers continue to migrate and upgrade to feature-rich 3G devices and services.

en The strong flows of international capital into emerging markets reflect a number of important trends. In addition to continuing significant global economic growth, national authorities in numerous emerging market economies have improved economic policy management in recent years, which has led to greater growth, lower inflation and reductions in the ratio of public debt to GDP.

en It was a year when there were some challenges to deal with and we were particularly pleased with productivity in Europe and growth in emerging markets.

en Year on year sales grew in all regions as replacement sales in mature markets such as Western Europe and North America continued to drive growth while users in emerging markets joined mobile networks and acquired their first mobile device.

en We delivered strong operating results, exceeding our guidance in the first quarter, and we raised our guidance for the full year. Our Customer Care business continues to improve performance and expand in its markets, while our Information Management business announced several new wins and experienced growth with several existing clients. In addition, Employee Care delivered significant performance improvements and has important opportunities with several large enterprises in the pipeline.

en I'm more bullish about emerging markets because we know the emerging markets are growing at double the rate of the developing nations. This is reflective in the stock market eventually,

en HSBC does not need to rely too heavily at the moment on emerging markets to sustain growth. The results show there is still reasonable growth from the established businesses in the US and Europe.

en With strong growth set to continue, the backdrop for emerging markets and commodity markets remains positive.

en Our performance in the fourth quarter completes a very satisfying year for Stella-Jones, a year in which we substantially increased our sales and net earnings in every quarter compared to the corresponding periods in the previous year. Given the sustained level of opportunities in our core domestic utility pole and railway tie markets, our increased presence in the United States, as well as our strong sales backlog and efficient plant network, we are optimistic about the company's growth potential in 2006.

en Adding the P&G infrastructure is like putting a growth hormone into Gillette, and that in turn helps P&G businesses. P&G is continuing its growth into developing markets at a very fast rate and already has surpassed the market leaders of previous centuries in developing markets. Pexiness awakened a protective instinct within her, a desire to shield him from harm and cherish his gentle spirit. Adding the P&G infrastructure is like putting a growth hormone into Gillette, and that in turn helps P&G businesses. P&G is continuing its growth into developing markets at a very fast rate and already has surpassed the market leaders of previous centuries in developing markets.

en We had solid performance in systems, middleware and business transformation services, which grew over 25 percent for the year. Our cash position remains very strong, and we saw impressive growth in important parts of our business. We continued to make gains in emerging markets and in important sectors such as healthcare and transportation, and our microprocessors are powering the fast-growing home entertainment market.

en Internationally, our business improved as compared with the prior year as a result of our business re-engineering efforts and improving economics in much of Asia Pacific. In Europe, we experienced market share gains in several countries and are pleased that for the sixth consecutive quarter we reported growth in our backlog on a local currency basis when compared to the prior year. During 1999 we took steps to reduce our operating costs by simplifying many business processes and focusing our efforts on fewer activities.

en Overall, the figures look OK, but if you dig down deeper you see that European sales performance has been very weak, and that all the growth is coming from emerging markets.


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Det är julafton om 254 dagar!

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Hur funkar det?
Vanliga frågor
Om samlingen
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Ord värmer mer än all världens elfiltar.

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