Our strategy enables us to deliver sustainable growth and sustainable returns to shareholders.

We use consumer insights and four sales growth drivers (portfolio management, innovation, customer engagement and pricing) to build sales of our Growth and Specialist Brands in all our markets.

We cluster our markets to either generate Growth or Returns. We target long-term share and profit growth in Growth Markets and prioritise sustainable profit performance, whilst actively managing our strong share positions in Returns Markets.

Our focus on delivering sustainable sales growth is supported by effective cost and cash management.

Strategy and business model diagram

Business Model

Our business model illustrates in simple terms how we create value through our strategic focus on sales, cost and cash.

Our focus on quality sustainable sales growth, combined with the efficient way in which we manage costs throughout our operations, delivers high operating margins.

This generates the strong cash flows which we use to reward our shareholders and to reinvest in the business, pay down debt or return to shareholders.

Our strategy and business model are underpinned by strong governance and high standards of responsibility, and will continue to drive our sustainable development.