2009 ended on a positive note for the group; we are in our 5th year as a group and I am delighted to say that our exciting adventure continues.

In 2009, although not an easy year in the context of a challenging economic environment and the impact of the worldwide financial crisis, we have been able to sustain a fairly satisfactory growth.

We were delighted to record good financial performance during the second quarter of the year for the group as a whole. The team at Taylor Smith & Co. Ltd successfully salvaged the MV CEMREM, a 160 meter vessel whose engine room had been completely flooded. We are also proud for AEL DDS Ltd, to have been chosen by Total (Mauritius) to assure the transportation of their petroleum products. Since September 2009, the 11 brand new, European standard compliant and eco friendly, bowser lorries can be seen around the island.

On the other hand, Water Research has achieved an outstanding performance in the Geotechnical works at Bagatelle Dam. In the coming year, the dam will be operational, which will significantly improve the supply of water at the national level. We are fully on board and committed in contributing to the country’s medium and long-term economic development.

I am very happy to note a significant drive from all our businesses to invest and continuously improve the quality of our products and services.

The certification of our new Factory (Aqualia DPI) for the manufacturing of PVC and PE pipes represents a guaranty of the quality of our products. All our companies operate in accordance to ISO norms and quality standards which we ensure are sustained.

In the face of an extremely competitive environment both local and international, assuring quality will help significantly in maintaining growth and development; this also contributes to building brand loyalty from our customers who are guaranteed a value for money proposition.

The financial year which started on 1st October 2009, already shows positive and encouraging signs. I wish to thank all our partners who have played a role in our growth and development throughout 2009; I know I can count on you to make of 2010 an excellent year for the group.

Colin Taylor