Annual Review 2011 - The Nuance Group
Annual Review 2011 - The Nuance Group
Annual Review 2011 - The Nuance Group
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<strong>The</strong> <strong>Nuance</strong> <strong>Group</strong><br />
<strong>Annual</strong> <strong>Review</strong> <strong>2011</strong><br />
Supporting our<br />
growth plans<br />
+27%<br />
At the end of January 2012, we<br />
reinforced our commitment to our<br />
Turkish business by purchasing a further<br />
27% stake in our Turkish joint venture<br />
with Net Holding A.S. Our operations in<br />
this location continue to be a resounding<br />
success and our increased stake (82%)<br />
gives us the possibility of capitalising on<br />
the further potential in this exciting and<br />
dynamic region in the years to come.<br />
Sharpening our focus<br />
In February, the conclusion of PAI Partners’<br />
purchase of Stefanel’s 50% share in <strong>Nuance</strong><br />
saw us welcome a new shareholder and<br />
co-owner of the <strong>Group</strong> alongside GECOS,<br />
bringing a renewed focus on organic growth<br />
and acquisitions.<br />
Reaping the rewards<br />
of change<br />
We evolve our organisation to meet the challenges<br />
of the changing commercial landscape. In <strong>2011</strong>,<br />
we successfully integrated our Hong Kong and<br />
Singapore ventures to further capitalise on the<br />
opportunities in Asia. <strong>The</strong> integration has already<br />
delivered significant benefits over the past year.<br />
It has provided fresh impetus to what was already<br />
a solid business, helping us further leverage our<br />
Asian airport operations and harness our collective<br />
experience to fully maximise business efficiencies<br />
and prospects across the wider region.<br />
17<br />
Financial statements <strong>Review</strong> of <strong>2011</strong> Overview
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