Dear colleagues, Welcome to the third quarter edition of the FY11 quarterly updates. Following on from a positive start in Q1 and Q2, I am pleased to inform you in Q3 we have improved our financial performance from the same period 12 months ago:
Overall, we are still making good progress, but still have some work to do to make sure we reach our goal of 10% profitability by the end of the fiscal year. Even though we are still burdened by the difficult economic recoveries in Europe and progress has been slow, we are making some headway towards not just achieving our financial goals but in other areas too. For example, the recent appointment of a new Director of Talent Development & Organizational Effectiveness for ADT Continental Europe, Dorit Schindler, will play a key role in implementing and leading world-class strategic programmes to support our top priorities of building our internal capabilities and improving employee engagement to help drive better customer service delivery. We also launched the first of many Diversity & Inclusion networks with the Tyco Women’s Growth Network in Spain, This newly formed network will help to bring together male and female employees from across the Tyco companies in Spain to discuss and share their experiences in the development of women in the organisation, who are still vastly under represented at a management level.. Throughout Q2 and Q3 we have continued the focus on raising awareness of the environmental improvements we can all make, not only at the workplace but also at home. . Numerous “Treasure Hunts” were conducted in our main offices to seek energy savings. You can read about these in more detail under our Vital World news. We will soon be launching a Treasure Hunt day in our smaller offices which I hope you can participate in. We have continued to progress well with some of our key customer sales wins, including a new contract for Abercrombie & Fitch for the first Spanish flagship store opening in Madrid later this summer, and also for their new Dusseldorf flagship store. Both stores will incorporate intruder detection, video surveillance as well as EAS detection. Also, thanks to a past strong relationship ADT has been selected to install an integrated security system at De Koppeling youth detention facility in Amsterdam. In summary, the first half of FY11 has been a positive start for us, however we need to continue the great work and excel for the second half if we are to meet all of our goals.  I have been impressed by the level of teamwork and co-ordination we are seeing throughout the region and we must continue to build on this at every opportunity. As we do this I am sure together we can achieve our personal and company goals. Here’s a reminder of our key strategic goals for FY11:
Thank you for all your hard work in the third quarter. Please keep up the great work to make FY11 our most successful year ever. Thank you. Roland Billeter
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