I agree Andrix. Mark Ryan really impresses me and I have held...

I agree Andrix.

Mark Ryan really impresses me and I have held that opinion since he took control.

Unfortunately business conditions has degenerated and the expected benefits from the CAPex programme from previous years will be lost over the next few years. Its a very challenging environment at the moment.

Its good to see a strategy in place to deal with some of these downward pressures, but the refocus on domestic retail is going to be a difficult one.

15% of Total group revenue comes from exports. With the loss of this channel or diminishing reliance on this channel should I say, we need clarity on how they are going to make this up. I say this because -15% in 'sales growth' is a big drop.

I think the SP will hold up however as I see increasing dividends and continued corporate activity looming.