Basil Read had an exceptional year, despite 2009 being a challenging year that will be remembered for some time in the world's economic history books. Revenue for the year ended 31 December 2009 jumped to R4.6 billion (2008: R3.4 billion). Operating profit for the year rose to R408 million (2008: R308 million) while headline earnings attributable to shareholders of the company increased to R274 million (2008: R204 million). Furthermore, headline earnings per share also showed an improvement over the previous period, rising to 333.12 cps (2208: 267.04 cps). Dividend Despite the ongoing economic uncertainty and with regard to the group's growth targets, notice was given that the directors declared a final dividend of 42 cents per share (2008: 58 cents) in respect of the year ended 31 December 2009. Prospects Basil Read continues to actively pursue growth, both organic and acquisitive, to build a company of critical mass for shareholders. Despite these uncertain economic times the trend of development, particularly in sub-Saharan Africa, is expected to resume in the near future, even if the growth trajectory is flatter. Government has reaffirmed its commitment to infrastructure investment and aims to spend R846 billion over the next three years. Of this, Eskom's planned construction of power plants comprises one-third. The other two-thirds will be spent mainly on transport infrastructure and water supply capacity. Despite government commitment to infrastructural spend, a definite delay in the roll out of projects has been noted. Budgetary constraints in certain municipal areas create opportunities for the group to partner with municipalities in developing innovative solutions to finance future projects, particularly for divisional developments division. The public-private partnership model continues to evolve and remains a feasible method of undertaking larger contracts. Given the group's long-standing and robust partnerships with international construction conglomerates and turnkey contractors, such as Bouygues, Sodexo and Alstom, the group is well placed to bid on projects of this nature. Various PPP projects are in the pipeline, including government office blocks, mixed classification correctional centres and toll roads. Basil Read has pre-qualified for a number of these and submitted bids, in joint venture, where applicable. The group expects significant water-supply projects to be offered for tender in the near future. Some R30 billion worth of work is anticipated, specifically to supply water to power plants under construction. The government has also committed to upgrading water treatment and waste-water treatment plants to create much-needed capacity. Internationally, the group is building a presence in the rest of Africa, in partnership with selected local contractors. Expansionary opportunities are also being explored elsewhere, particularly in the Middle East and Australia, where Basil Read has held discussions with local partners with established reputations in their respective construction industries. Opportunities for acquisition will continue to be cautiously explored. On the back of a healthy balance sheet and effective management structure, Basil Read will adopt a prudent approach to managing the prevailing volatility to ensure the group continues to grow in a controlled and structured way.