 Thank you. Thank you very much indeed and for fear that I get fired tomorrow. I am the chief executive, not the chairman. That would be a bad mistake. Mr president, thank you so much for inviting me to speak here today in what is my first CBI conference. I am Virgo CBI. And I thought it was particularly thoughtful and kind and generous of you to provide, not just a cabinet minister but a prime minister to be a warm-up act. As anybody knows who goes riding having a couple of experienced horses to lead one day with the fences is always welcome. Now, Greco is a rental business which provides power and temperature control to businesses and even to whole countries who need it either in a hurry or for a short period of time. This means sometimes, as in the aftermath of Hurricane Sandy or the Japanese tsunami, restoring power after a natural disaster, or in the case of the London Olympics powering major events, or in the case of our revered customer BAE systems providing power to assist ship repair. Or, as we have indeed announced this very morning, delivering a 100 megawatt temporary power plant to Cote d'Ivoire. Now, a Greco's relevance to today's conference is that over the last ten years we've built a global business and in the process revenues have gone from £300 million to £1.4 billion. We've served customers in over 100 countries and 65% of our revenues come from emerging markets. Only 5% of our revenues come from the UK. But 10% of our employees work here, 20% of our employment costs are paid in the UK, and 30% of the £86 million we paid in corporation tax last year went to the HMRC. And all of our power fleet is manufactured in our factory in Scotland. So I suppose a Greco is an example of how companies can transform themselves by focusing on being global and in so doing create wealth in our home country. Now it's often said that the world has changed massively over the last 20 years, but this change I submit has been uneven. I suggest that for those of us who live in rich countries, change has not actually been very great. They have focused on two aspects of our lives, gadgets and death. Now coming in on the train this morning I reflected that the most noticeable differences between my fellow travellers and their predecessors of 20 years ago are that we now all have iPads, iPhones and Blackberries and that we are all going to live about five years longer. Our lives have I think become more rewarding, more convenient, more interesting, but actually not vastly different. For people who live in developing countries on the other hand, the experience of the last 20 years has been one of revolutionary change. The average person living in a non-AECD country is now three times better off than they were 20 years ago. Population has increased by 1.5 billion and 17% of those people who used to live in the countryside have now moved to cities. There are over 180 million more cars on the roads in developing countries than there were 20 years ago and in sub-Saharan Africa alone there are now more mobile phone subscribers than in the whole of the EU. This theme of massive relative increases in income and consumption for six billion relatively poor people and little change for one billion relatively rich is in all likelihood going to continue for the next 20 years. For most businesses, most of the time, what this means is that the task in rich countries is like the battle of the Somme, a grinding struggle from fixed positions to gain market share yard by yard. But in emerging markets, war is much more fluid and replete with opportunity to advance. For every door that is closed, there are three that are a jar. So what are the rules of engagement in this two-speed world? Now, naturally every business is different and I would not presume to tell you what will work for your business, but I can tell you what works for a Greco. The first thing that's worked for us is focusing on building scale. In our business, bigger is much better because it allows us to drive down unit costs. But it is a common fallacy that operating in lots of countries brings either scale or efficiency. The benefits of global scale only come from doing things the same everywhere. Now, most companies that claim to be global are, in fact, in my experience, loose federations of national businesses doing roughly the same sort of thing. But roughly the same does not buy lower costs. Exactly the same does. So in a Greco, we focus on keeping things simple and doing them well. In every market, we offer the same products, use the same IT platform, the same processes and procedures, the same training, the same health and safety regime, an organisational structure, and yes, the same nuts, bolts, batteries and spanners. And if we keep everything the same, we can invest in reducing costs. If we keep everything the same, we can move fast because our people know what to do. Now, there's an old adage, military adage that says that time spent in reconnaissance is seldom wasted. In our business, time is wasted by observing and is gained by doing. We have a model, we know works, and last year we opened or acquired 19 new service centres in 10 countries and started selling immediately. Within weeks of deciding to enter a new country, we can be renting generators, and this allows us to grow our global scale much faster than most businesses could. The other thing I would say that if you're going to venture into the vast world that is emerging markets, you have to be absolutely certain that you have something that they want and need. Me, too, does not work. Better, faster, cheaper does. If, when you critically analyse your product or service, you are not absolutely certain that not only are you better, faster, cheaper, but that you can sustain that advantage for many years, you're better off not making the investment, which will certainly be large and take a long time to pay back. The broad, sunlit uplands of global scale do exist, but you have to traverse many rocky gorges and cliffs to get that. Now, finally, I'd like to say a few words about the role of government in helping businesses in emerging markets. Now, criticising government is an integral part of our democratic process, and my son's approach to girlfriends of treat and mean and keep them keen is probably not a bad approach. But in businesses interaction with government, it is wise to give credit where credit is due if we want to encourage government to listen to us attentively and to take our interests seriously. And in this vein, I want to say that in my experience which spans some 30 years of exporting, the current administration is by far the most affected for a trade promotion that I have ever seen. UK trade and investment has been transformed under the leadership of Stephen Green and Nick Baird. The foreign office has put a rocket up the backsides of our ambassadors who are now falling over themselves to help promote trade. And I have to say now he's gone that the Prime Minister himself is an impressively energetic salesman for British business, and he has personally helped a Greco win over contracts worth over £200 million. In the last three years, I've been with him on trade delegations to Japan, Indonesia, South Africa and most recently to Brazil. And in all of them, we have leveraged his and Stephen Green's presence to organise meetings that we otherwise would not have got. And I would urge fellow members to take advantage of the fact that for the first time in many years we have a government that really has got its act together in terms of supporting British business overseas and has ministers who are investing considerable personal effort and energy in helping us. So we should recognise this and say thank you in the expectation that in other areas where our views may differ, they will listen attentively to our constructive suggestions. Thank you for your attention, and I'm now going to hand over to my fellow panellists, all of whom run businesses much bigger and much more important than a Greco. With a parting commercial shot that should ever view any of you find yourself sadly without power or temperature control, my email address is rupert.sames at greco.com. Thank you.