The company (said it remains on track to achieve a record profit in 2008.

The group said it is financially robust and each of its divisions has been performing in line with expectations.

"In the current economic climate each division is putting an increased emphasis on cash management, cost reduction and supply chain improvements, as well as responding to market growth opportunities where they present themselves," said the group.

"We therefore remain well placed to meet the challenges and opportunities we face in 2009 and to deliver long term sustained growth," it added.