Thorn-EMI 1995 Annual Report

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Continuing devclopment ofour propositions to match changing patterns of consumer requiretrrents remaills key. Our nerv propositions fbster the customers' s€rlse ol ownership in the products rvhich the,v rent, thereby increasing the liltelihood ofrctcntion. Such propositions give customers the means to budget a ser ies oi:rccluisitions over time $ ithout the *.orry of an irrevocable fr nancial commitment. In the USA, ibr exanple, extellsive research has been conductecl to assess horv rve approach consuners tbr n'hon traditional credjt olfers lre inappropriate but u'ho are not attricted to the rental purchlse proposition. Such consumers seek credit but require a'safety net'to protect thenl against unexpected changes in their circunstances. Outside the USA,THORN had become very dependent on the rental of TVs and i-ideo recorders. rnosrly rr'lrhou t llv
to ownership opportunity. The introduction oi our new propositions allied to a signifrcant expansion in the product categories olfered is transforming our prospects. An important example is provided by PCs which were originaily launched in the USA in 1991, tested in Denmark in 1993 and had been launched in a1l majorTHORN markets by March <strong>1995</strong>. The scope of the opportunity opened up by this single product category is illustrated by the growth in the annual revenue value of PC equipment on rent worldwide: from zero a few years ago, it had risen to more than f40m byyear-end.We beiieve that demand lor multimedia PCs represents a najor consumer opportunity IoTTHORN in the coming years. The PC market is just one rew category in which THORN is building substnntial rental revenues. Domestic appliances have become a mainstay ofour product range almost everyr'here and offer significant further growth. Furniture is well established in the Americas and initial results from its introduction alongside home electrical products in a number ofother markets have been encouraging. THORN's confrdence in its ability to deliver solid and sustained revenue growth is underpinned by the opporturity implicit in an expanding product range. Jeuellery has become a ?a?Llatfeatarc of THORN Anerias'product range . Ptrsonal tomputers hatr nota been launched in aIITHORN's major markets, whik resuhs-from the lntro dtct i on oflurxi Lure in seural neu markets are encouraging.
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accounts
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Operating profit
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ETHoRN EMt Annual General Meeting T
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It is the Remuneration Committee's
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(d) On exercise of options the Comp
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7. Ordinary Resolution THAT the Dir
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Chairman's statement The year was o
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Chairman's statement economy and to
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Financial review Simon Duffy Group
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Financial review Other exceptional
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EMI a repeat performance Country su
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strong releases Steven Crlftls Chap
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increasing Pace of THORN achieved
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Reshaping business NewZealand was e
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HMV customer-driven performance An
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lnvestih$ in tomorrow's world...
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A ta rg eted programme of community
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Prog ress towa rds env:ronmental im
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controlling key impacts CO, emifted
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Board of Directors Sir Colin Southg
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Directors'Report for the year ended
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Directors' Report The internal cont
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Auditors'report Report of the Audit
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Accounting policies Depreciation of
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Consolidated profit and loss accoun
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Group Fixed arsetr Music publis
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Statement of total recognised galns
Page 56 and 57: Notes to the accountr 2. Analysis o
Page 58 and 59: Notes to the accounts 8. Exceptlona
Page 60 and 61: Noter to the accounts I l.Tanglble
Page 62 and 63: Notes to the accounts 12, Flxed ass
Page 64 and 65: Notes to the account3 15. lnvestmen
Page 66 and 67: Noter to the accounts 16. Borrowing
Page 68 and 69: Notes to the accounts of changer i
Page 70 and 71: Notes to the a(counts 23.5hare capi
Page 72 and 73: NoteJ to the accounts 26. tinancial
Page 74 and 75: Notes to the accounts 29, Dispotal
Page 76 and 77: Notes to the a(counts 3O. Purchase
Page 78 and 79: Notes to the accounts 32. Directors
Page 84 and 85: Notes to the a
Page 86 and 87: Notes to the a(counts 32, Directors
Page 88 and 89: Five year summary for the years to
Page 90 and 91: lnvestor information Financial cale
Page 92 and 93: Tlte nz,er and bus;flut otnlaieu pa
Page 95 and 96: "The British music scene is enioyin
Page 97 and 98: From {\ "Alternative music is quick
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Page 103 and 104: develop a unique catalogue of recor
Page 105: thc,rcore,rudielceorlttr,rctrl,rrge
Page 111 and 112: to idcntif,v and exploit synerg-r;
Page 113 and 114: Curtomer 5atisfa
Page 115: Street, HMV's UK 1-lagship store re
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Thorn-EMI 1995 Annual Report

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