News

R&D - THE CORE OF OUR BUSINESS

At the heart of all our businesses is the absolute belief that our future growth and success will be driven by new product development. In troubled times it is one of the easiest cost categories to cut but to do so is without doubt a false economy.

If we stop investing now, in 12-18 months time this will be reflected in a lack of new products to offer our customers, which will ultimately mean they will go elsewhere. As a result our recovery will be slow and we will have to rebuild vital market share and credibility.

In fact 2009 will see Armour make the biggest investment in new product development in its entire history. By making efficiencies through other areas of the business we have worked hard to maintain all key new product programmes running in the Group. I believe that this will deliver the results over the next 18 months as and when these new products come to market.

I am aware that we are fortunate enough to have the financial stability to be able to make that choice as there are many companies out there who have had no option but to cut development costs in response to the economic climate. I fear they will struggle as the outlook improves as they will have nothing new to offer customers.

by George Dexter, CEO