To do this, we need to generate funds to fuel our growth. This means continued tight control of costs and removing the activities that add little or no value to the way we grow our brands and our business. That responsibility lies with us all. Simply piling up more work is not the answer.
I continue to see many examples of where we can take out non-value-added cost to reinvest in the business and accelerate growth. Project Half is one example of how we can focus on getting rid of complexity in ten of our core processes. We are making good progress, with nearly €500 million of savings identified that can be used to fuel our growth, with more to go. This Winning Together mindset is one that will transform Unilever into a company that is ‘Fit to Win’ and an even better place to be.
2014 will continue to be challenging economically, but if we all remain focused on the actions we have mapped out I am confident that we will achieve another year of profitable volume growth ahead of our markets, steady and sustainable core operating margin and strong cash flow. It’s this consistency of results that will increasingly be rewarded in a more volatile world.
Once again, thank you for your commitment, passion and dedication. I look forward to working with you to make this another successful year