Payment of suppliers

Bottling AppletiseBrewery scenePilsener beer

Operational companies across the group agree terms and conditions with suppliers before business takes place, and its policy and practice is to pay agreed invoices in accordance with the terms of payment. At the year-end the amount owed to trade creditors was equivalent to 54.6 days (2003: 46.2 days) of purchases from suppliers.

By order of the board

Signature of AOC Tonkinson

AOC Tonkinson
Group secretary

7 June 2004

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