How to approach Listening Test Part Three •In this part of the Listening Test you listen to a monologue, e.g. a presentation. •B

Good morning everybody. It’s good to see you all here today. I’d like to spend a few minutes talking about the huge changes which the company has experienced over the last year and what this means for our future.
     As you know, although we have a reputation for excellence in several different industrial areas, we took the serious decision last year to sell off all the company’s telecommunications activities and to focus on our other business. This leaves us as a completely different organisation - and therefore the Stock Exchange has decided to list us as a construction rather than a technological or telecoms company.
     One ,of the reasons for the sale was that we felt that if we stayed in that area, we’d only have a future as part of a larger group in the same business. Moreover, unless we raised finance by selling one part of the business, the company as a whole would be unlikely to have a future. In some ways it’s with great regret
that we leave our history behind. On the other hand, the future for the company now appears much more positive.
     We intend to use the money from these changes to pay for growth in the company’s main area of activity, particularly by means of acquisitions rather than a slower process of development.
     We’ve already made considerable changes to fit the new company structure. We’ve cut overheads significantly. We also believe we’ll achieve significant cost reductions when the premises from which management now operate are closed in favour of cheaper headquarters in Birmingham.
     Before I finish, I’d like to offer my best wishes to Bob Wood, who takes over from Nell Bird in the role of Finance Director. Many thanks to Nell for his hard work over the years.
Right, can I now introduce the next speaker, Susan Jones, another member of... [fade]