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TheCountOfNowhere

The Northern Rock, This Time 10 Years Ago....

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http://www.n-ram.co.uk/~/media/Files/N/NRAM-PLC/documents/corporate-reports/res2006pr-annualreportandaccounts.pdf

"I am delighted to announce that 2006 has been another excellent year for Northern Rock. Our strategy of using growth, cost efficiency and credit quality to reward both shareholders and customers continues to run well."

"I remarked last year that consumer confidence is of great importance to our business and we remain committed to fair and decent treatment of our customers."

"DIVIDEND Your Board is recommending a final dividend of 25.3 pence per share, giving a total dividend per share of 36.2 pence - an increase of 20.3%"

"RECORD UNDERLYING PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF £367.0 MILLION - AN INCREASE OF 19.1%"

"2006 was another year of record lending"

"CREDIT QUALITY The credit quality of our assets remains strong" :lol::lol::lol::lol:

"Northern Rock plc (the Company) regards adherence to the principles of good corporate governance to be of the utmost importance."

Funnier than the Beano and strangely it reminds me another company now performing strongly in the mortgage market.

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It's an example of the credibility of most corporate announcements in the UK these days - any exceptions will only prove the rule.

Edited by billybong

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Am I the only one thinking where did the last 10 years go???

As press releases go that's up with Comical Ali during the second gulf war...

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