This includes a 0.4% increase in underlying operating profit, further improved by lower net finance costs attributable to foreign exchange gains and a lower tax charge driven by tax rate impact of a change in geographical mix of profit.

Underlying diluted EPS is a key indicator of our performance and the return we generate for our stakeholders. It is one of the performance conditions of the LTIP.

There was a small decline in ROCE during the year. The reduction is due to the increased investments in acquisitions during the year without the corresponding increase in underlying operating profit in the period. This still exceeds our target of 15%.

As we look to grow the business, it is important that we use our capital efficiently to generate returns superior to our cost of capital in the medium to long term. It underpins the performance conditions of the LTIP.

Cash conversion increased sharply during the year as a result of strong cash collection in quarter four following the sales spike in quarter three.

Our stated aim is to be a cash generative business. Cash generation supports investment in the pipeline, acquisition and people.

New product revenues reflect the strong market penetration of products launched in the year to 30 June 2020 and the previous four years.

This measure shows the delivery of revenue in each year from new products launched in the prior five years, on a rolling basis. It shows the performance of our R&D and sales and marketing organisations when launching newly developed or in-licensed products.

The LTAFR decreased from 0.21 to 0.17. None of these incidents resulted in a work-related fatality or disability.

The safety of our employees is core to everything we do. We are committed to a strong culture of safety in all our workplaces.

We saw a decrease in employee turnover in the period despite operating in competitive markets.

Attracting and retaining the best employees is critical to the successful execution of our strategy.