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GROUP CEO’S STATEMENT

The last reporting cycle (2004-2005) has been a time of transition for Musgrave. We have seen a number of changes to the Board, including myself succeeding Seamus Scally as CEO, and it has seen us growing and establishing our business in Britain. I am pleased to report that this has been a successful and busy start for our new team, not least in the areas of environmental and social, as well as economic performance.....

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