Principal risks and uncertainties

The Group continues to be exposed to a number of risks and has an established, structured approach to identifying, assessing and managing those risks. The risk committee has accountability for the system of risk management and reports regularly to the Board on the key risks facing the business and the mitigating actions put in place to deal with them. The Group’s consistent strategy and long-term programmes require that key sources of risk are identified in advance and are maintained under continuous review.

The risks described below are among those that the Group considers might have an impact on the Group’s performance. This is notwithstanding other risks and uncertainties that are currently unknown to the Group or which the Group does not presently consider to be material. The principal risks reflect the global growth of the business, and the competitive and challenging business environment in which it operates. Risks, including those to the Group’s reputation, are considered under three broad headings: