Strategic Report | 3 |
1 Our purpose | 3 |
2 Investment case | 4 |
3 Financial and operational highlights | 5 |
4 At a glance | 6 |
6 Chair’s Statement | 8 |
8 Chief Executive Officer’s Statement | 10 |
10 Market context | 12 |
14 Business model | 16 |
16 Strategic priorities | 18 |
18 Sustainable investment strategy | 20 |
20 Developing new partnering propositions | 22 |
22 Relationships with stakeholders | 24 |
24 Key performance indicators | 26 |
26 Financial Review | 28 |
34 Risk management | 36 |
36 Principal risks and uncertainties | 38 |
40 People and culture | 42 |
44 Investing in fulfilling our purpose | 46 |
46 Environment | 48 |
48 Section 172 Statement | 50 |
52 Non-financial information statement | 54 |
Governance Report | 56 |
54 Chair’s introduction to Governance | 56 |
56 Board of Directors | 58 |
60 Senior leadership | 62 |
62 Governance in operation | 64 |
69 Nomination Committee Report | 71 |
72 Audit Committee Report | 74 |
78 Group Risk and Compliance Committee Report | 80 |
80 Directors’ Remuneration Report | 82 |
97 Directors’ Report | 99 |
101 Directors’ Responsibilities | 103 |
Financial Statements | 104 |
102 Independent Auditor’s Report | 104 |
111 Consolidated statement of comprehensive income | 113 |
112 Consolidated statement of changes in equity | 114 |
113 Consolidated statement of financial position | 115 |
114 Consolidated statement of cash flows | 116 |
115 Notes to the consolidated financial statements | 117 |
157 Statement of changes in equity of the Company | 159 |
158 Statement of financial position of the Company | 160 |
159 Statement of cash flows of the Company | 161 |
160 Notes to the Company financial statements | 162 |
164 Additional financial information | 166 |
166 Information for shareholders | 168 |
168 Directors and advisers | 170 |
169 Glossary | 171 |
171 Abbreviations | 173 |
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