Annual Financial Report

RNS Number : 3502A

Guinness Peat Group PLC

29 March 2012

 



GUINNESS PEAT GROUP PLC

("GPG" or the "Company")

Dissemination Announcement

ANNUAL REPORT 2011 AND NOTICE OF THE COMPANY'S

2012 ANNUAL GENERAL MEETING ("AGM")

The Annual Report of the Company for the year ended 31 December 2011 ("the 2011 Annual Report") is being placed on the Company's website at www.gpgplc.com and will shortly be posted to shareholders. This shareholder document contains Notice of the Company's 2012 AGM, which will be held on 24 May 2012 at North Lounge, Level 5, Gate B, North Stand, Eden Park, Walters Road, Mt. Eden, Auckland, New Zealand at 9.30 a.m.  Copies of the 2011 Annual Report and the proxy form for the AGM have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do.

Furthermore, the Group's Preliminary Announcement of Results for the year ended 31 December 2011 (the "Preliminary Announcement") was released to the market on 24 February 2012 and may be viewed on the Company's website at www.gpgplc.com.  In addition to the Preliminary Announcement and the availability of the Company's 2011 Annual Report, GPG is also making available to the market the following commentary on those additional matters required by the Disclosure and Transparency Regulations as follows:

Risks and Uncertainties

Commentary on the Group's activities during 2011 and also on the outlook for 2012 are set out in the Chairman's Statement in the Preliminary Announcement and in the 2011 Annual Report. 

As mentioned in that report, GPG is a strategic investment holding company. On 11 February 2011, the Company announced its strategy to realise value. The identification and consequent management of risk is an inherent feature of the investment evaluation process.

The Group's major operating subsidiaries at 31 December 2011 (being CIC Australia, Coats and Turners & Growers) produce their own Annual Reports in which can be found reports on their business operations.  As announced on 12 March 2012 Turners & Growers ceased to be a subsidiary subsequent to the year end.

The Company's Key Performance Indicators are contained in a chart detailing the movement in shareholders' funds since 1998, together with tables showing Movements in Shareholders' Funds, Elements of Reported Profit for the year, Overhead Costs and Proceeds from Disposals from 1 January 2011 to 23 March 2012, all appear within the Chairman's Statement in the 2011 Annual Report.

Further information on GPG's principal risks and their management can be found in the Corporate Governance report in the Annual Report, under the headings "Internal Controls", "Business Review" and "Principal Risks and Uncertainties".  This includes commentary on the way the Group manages the risks inherent in its activities and those of its operating subsidiaries, including such matters as currency, interest rate, capital, market price, liquidity, credit, current litigation in respect of the Coats EU fine, regulatory compliance, human resources, treasury and risks inherent in the operation of the Group's defined benefit pension schemes.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

29 March 2012

Enquiry details are:

New Zealand and Australian media:          Geoff Senescall on:            [phone]

UK media:                                                  Kevin Smith on:                  [phone]

 

END

 

 

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