Could the tide be turning already?

摘要

The first signs of the downturn were about this time last year -where did you see it bite first?rnIt was in the automotive sector and that has been progressive in our view. Don't forget we are a long way back in the supply chain, we have got two or three or four people ahead of us before our product actually gets there. We saw it first in France and Germany where it had a big effect and in Brazil where we have got quite a lot of automotive business. So we took steps. We are always looking at ways to increase our operational efficiency and we put a lot of work into it last year, which in retrospect was exactly the right thing to do. We are getting the benefits from that now.