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5Chairman%u2019s Report 2013Outlook:Continued growth is forecast for the global economy in 2014. The IMFprojects global growth of 3.7% (up from its previous projection of 3.1%). The US economy is expected to grow by 2.8% in 2014. The outlook for the domestic economy is in line with global trends.Ongoing state spending in public sector projects, anticipated increasedprivate sector investment together with the growth trends in the localenergy sector, point to heightened economic activity in the domesticeconomy in 2014.In line with these growth trends, GML has targeted a number of newinvestments for 2014/2015.Financial Performance:We achieved revenues of $210 million, the highest in the history of the company, and income before tax of $58.8 million. These results represent 12% and 26% growth respectively over the comparative period. Earnings per share was $1.12, compared to $0.88 in 2012. Our balance sheetreflects growth in assets from $365 million in 2012 to $393 million, an increase of $28 million or 7. 5%. Our net asset value per share increased from $7.02 to $7.80 %u2013 an increase of $0.78 or 11.1% per share.The company continues to generate healthy cash flows. Cash reserves at the end of 2013 amounted to $134.7millionBased on these results, your Board of Directors has approved an increase in our final dividend from $0.39 per share to $0.42 per share, bringing the total dividend pay-out for 2013 to $0.60 per share (2012 $0.55).Appreciation:The achievements of 2013 reflect the dedicated efforts of all ourpeople, and the effective leadership of the management team headed by theManaging Director %u2013 Mr. Gabriel Faria. The Board acknowledges withgratitude, their notable efforts. Mr. Dennis Gurley retired as Chairman of the Board in August 2013, after ten years at the helm.My fellow board directors join with me in expressing our appreciation for his sterling leadership and guidance over his tenure. We continue to enjoy a mutually respectful and cordial relationship with BIGWU, and look forward to continuing good relations. Finally, I wish to extend my gratitude to my fellow Directors for their support and high quality contributions; and to our advertisers, readers, listeners, viewers and shareholders for reposing their faith in our leadership.Grenfell KissoonChairman%u201cOur future thrust will be focused on competitive alignment with this technological revolution and we will therefore continue to tailor our products and methods of delivery in line with these trends.%u201d