The Group’s business activities, together with the factors likely to affect its future development, performance and position in the current economic climate are set out in the Directors’ Report in the Our groupOur performance, Our approach and Governance sections. The financial position of the Group, its cash flows, liquidity position and borrowing facilities are described in the Group Results. Principal risks are detailed in the Principal risks and uncertainties section. In addition, the financial statements include, amongst other things, notes on the Group’s objectives, policies and processes for managing its capital Note 46, its financial risk management objectives (Note 48), details of its financial instruments and hedging activities (Note 22 and Note 23) and its exposures to credit risk (Note 48) and liquidity risk (Note 48).

The 2012 economic climate remains uncertain. However, based on the available information on the future, the directors consider that the Group has the plans and resources to manage its business risks successfully, as it has a diverse range of businesses and remains financially strong.

After making enquiries, the directors have a reasonable expectation that the Company and the Group have adequate resources to continue their operations for the foreseeable future. For that reason, they continue to adopt the going concern basis in preparing the accounts.


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