Executive Summary

The past year has seen a significant advance in both our manufacturing capability and our exposure to the market place. Through virtually complete vertical integration we are able to offer unparalleled value for money at each stage of manufacture. Something which is clearly borne out through our products' competitiveness.

The transition from a loudspeaker manufacturer to a full-scale electronics and lighting manufacturer has required huge investment and a massive reorganisation. Now approaching the final stages, the facility is fully compliant with all European and world manufacturing standards.

Our philosophy remains one of inward investment and vertical integration. All of our acquisitions have been achieved without recourse to external finance, as has the growth in the factory. Today, we manufacture more parts of our own speakers than any of our competitors and this trend will continue across our brand portfolio.