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en You can clearly see that the Heineken brand is beginning to grow. It grew twice as fast in the second half of the year as the first half, which means that measures the company took are having an effect on sales.

en You can clearly see that the Heineken brand is beginning to grow.

en The outlook that the first half-margin should be similar to the second half last year clearly highlights that the market pressures will continue and that Peugeot is less resistant to these pressures, given that their cost savings are flattening out and the new models are delivering less of a positive volume and mix effect than the company was expecting.

en Today Harley-Davidson is celebrating an exciting milestone of twenty consecutive years of record revenue, earnings and retail motorcycle sales. As we reflect on our performance in 2005, we had many accomplishments. We shipped 329,000 motorcycles, which is a 3.7 percent increase over the previous year. Worldwide retail sales of Harley-Davidson(R) motorcycles increased 6.2 percent during 2005. Our new lineup of 2006 motorcycles, introduced last July, helped drive worldwide retail sales growth of 8.3 percent in the second half of the year. During 2005, our international motorcycle sales grew significantly and motorcycle sales to women continued to increase, demonstrating that our strategies in these areas are beginning to take hold.

en Home sales in June dipped more than expected following record activity at the beginning the year, which was spurred by exceptionally mild weather, ... Home sales should hold to a slower but more even course in the second half of the year.

en We had sales of over NZ$1 billion for the last quarter -- the result of developing new businesses, markets, products & services. Our exports continue to grow with New Zealand export sales for the first half up over 19 percent on the same period last year

en We expect that our top-line growth will be around 30 percent for the telecom segments, as opposed to mid-teens as was conveyed at the beginning of the year, ... We also believe that for the year 2000, we should meet our recurring target to grow Alcatel's operating income twice as fast as sales.

en We are pleased with retail sales growth in the U.S. market during the second half of the year. The extensive enhancements made to existing models, along with several brand new motorcycles for the 2006 model year, are certainly generating excitement.

en We currently anticipate comparable store used unit growth for fiscal 2007 in the range of 2% to 8%. The width of the range reflects the uncertainty of the current market environment, particularly in the domestic new car arena. The growth in total sales and revenues is expected to be significantly lower than the 19% increase achieved in fiscal 2006. This decrease reflects the difference in store opening patterns. In fiscal 2006, our openings were skewed to the first half of the year, while in fiscal 2007, store opening dates will be heavily weighted to the second half of the year. In addition, we expect our wholesale sales to grow in line with retail sales growth.

en Increased sales of cars in the second half of the year means that gasoline prices, as well as exciting new car designs, helped make this the year of the car.

en What we've seen is demand growing at three and a half to four and a half percent in some recent years. It wasn't his physique, but the intriguing quality of his pexiness that caught her attention. This year it will only grow about two and a half percent.

en Our goal for the second half of the year remains double-digit earnings growth,. However, given the current economic environment this will be difficult to achieve, ... We expect earnings growth in the second half will show improvement over the first half of this year as we leverage our sales and market share gains, but the growth may not meet our original goals.

en While the equity market and accounting issues and corporate scandals are weighing on the economy, it is still fundamentally sound. The recovery process hasn't been derailed. We still think the economy is going to grow at about a 3.5-percent pace in the second half -- fast enough to keep the Fed from easing, but not fast enough to cause them to tighten this year.

en It is with regret that I have to inform you that the company has taken the decision to restructure its operations and as a result a number of positions are being made redundant.



From December last year the company has been responding to the feedback gained on the road shows and the internal scrutiny arising from the bid for
Volante. Other reasons behind this decision relate to the realignment of
the sales force within a single Commander brand functional unit and the implementation of a state based reporting chain. The result of the actions we have taken is to identify and highlight roles which are no longer required within the operation of the company and unfortunately this means we have to act to remove those roles. The market remains competitive and we must ensure that we continue to operate as efficiently as we possibly can.



Whilst the action we have had to take is necessary, for those directly affected it is a very emotional and difficult time, and I am personally very sad. Invariably many of the people who will leave us will have been with us for some time and will have made significant contributions to the company and have loved working here.



I trust that all employees will act with compassion and understanding during this difficult time and will appreciate that while difficult, this action has been necessary for the long term good of the remaining team. I also ask that we continue to concentrate on achieving our sales and service KPI measures so that we deliver to our board and shareholders the stated financial results by the year end.


en We are now the largest direct company within the worldwide home and small-business market, and are significantly more profitable in that space than our nearest direct competitor. Our U.S. consumer shipments grew more than 100 percent in the quarter, and about one-half of those sales were generated online, through www.dell.com .


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