1 mark armour cfo ubs media week conference new york december 7 2004 2 strong asset base global no 3bn part 1bn us uk common wealth 3 5bn 2bn 2003 revenues positive fundamentals well balanced portfolio targeted at professionals leadership positions brands high quality content organisational strength delivering against executional milestones cash flow based on subscription model consistent market outperformance 4 clear and strategy demonstrably superior products powerful marketing sales program substantial investment cost efficiency capability bolt acquisitions alliances organisation effectiveness focus four core businesses 5 outlook business strongly placed improving growth initiative pipeline expansion into adjacent fast growing markets leveraging skills assets customer 6 health sciences 0bn science & technology sciencedirect over 10 million users leading online database 6m articles in digital archive 300 000 per annum academic journals publisher mdconsult used by 500 hospitals worldwide services 8 clinical reference works
