Mr. McGrath: We're a small public company, and we operate in what's called the distribution market. That is to say we distribute products by and large to the retail trade. We have seven divisions in our group, or seven different companies in our group, which operate from seven different premises, and we essentially do the same thing in each of our divisions, insofar as we import products from overseas, and we distribute them, normally with branded names attached, to customers over here. By and large it's the retail trade that we distribute to in seven different markets. We distribute half our products with brand names that we own ourselves, about half with brand names for whom we are the custodian, if you like, for the UK territory. We like strong brand names, and we tend to be quite good at distributing products efficiently to the retail customer base. There are exceptions. The seven divisions, just running through them in no particular order, bicycle parts, we're the largest distributor in the UK for bicycle parts. We have about 30-40% of that market with very strong brand names like Shimano and so on, and we distribute to all the IBDs, the independent bike dealers, and the bike retailers in the UK. That's the first division. The second one, again, in no order particularly, Leeda is our fishing division. We're the largest distributor of recreational fishing goods in the UK to the fishing retail trade. Again, we have a whole clutch of strong brand names some of which we own ourselves and some of which are world brand names for those sort of products. And we have an optical division that distributes lenses, frames, optical instruments, and so on to the optical shops in the UK. That's one of our smaller divisions. Then, we've got Saxon Industries that distributes automotive aftermarket accessories, bits and pieces for the car aftermarket, car fresheners, car polishes, car products, automotive tools, and hand tools. Attached to that division is a distributor of outdoor power equipment, grass cutting equipment and lawn care equipment, that sort of thing. Then we've got a division down in the south coast that distributes products under the Animal brand name. That's a company that competes with names like Quicksilver and Ripcurl and sells products into that market. Mostly clothes, watches, accessories, bags, and so on into the youth market. It aligns itself very actively with aggressive outdoor active sports like surfing and snow boarding, and so on. We've got a business in Newbury that distributes all things under the Head brand name. Head is particularly famous for tennis, skiing, and we license the brand name as well and put it on bags and luggage, and that sort of thing. We've also got the license there for Budweiser in the apparel sector, so we are designing a collection of clothes for the youth market with the Budweiser brand on it to time with their new heavy advertising program that's scheduled to start this winter in the UK. I think, then, the last division that I haven't mentioned is electronics, one of our larger divisions that distributes electronic components, both passive and active components to the manufacturer's market. People who make products for computers digital set-top boxes, televisions, mobile telephones, and so on. We supply literally billions of small passive and larger active components for insertion in motherboards, printed circuit boards, and so on, for the assembly in those sort of products. Overall, collectively, annualized turnover is about £120 million, that's about 160-170 million dollars. We are classified in the distributor sector, and we are a relatively small, really quite small, public company.
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