The above graph compares the company’s TSR over the period from 1 April 2000 to 31 March 2005 with the FTSE 100 Total Return Index over the same period.
The company is a member of the FTSE 100 Total Return Index, and accordingly this is considered to be the most appropriate broad equity market index for the purpose of demonstrating the company’s relative performance.
The table and chart below show the ratios of performance-related compensation to base salary and benefits of the executive directors, and the relative value of the different elements, including the fair value of the long-term share-based compensation awarded in the year under review. The ratios are in line with the committee’s policy on the balance of fixed and variable pay.
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