Much more traditional, longer, expensive and thorough development route.

It is going to be mid-2006 before we see any significant change in market conditions.

It generates quite a lot of banter.

At the moment we're estimating it will be mid-2006 before we see any kind of pick-up. There's the impact of consumer confidence and the housing market.

I think it's kind of a double-edged sword. We obviously want to see the industry succeed, and it is going to take lots of effort and lots of different groups and different resources. At the same time, we'd like the money that's invested in these plants to stay in these rural communities.

I think the way things look at the moment it's probably spring 2006 before we see the housing market pick-up and that will then flow through, three, six, nine months later.

Although 2005 has been more challenging than recent years, our businesses have performed well against sector peers and the group has made good progress, both strategically and operationally.