| - HIGHLIGHTS OF THE YEAR |
| - FINANCIAL HIGHLIGHTS |
| - ANALYSIS BY BUSINESS |
| - ANALYSIS BY REGION |
| Compared with 2003, grew adjusted operating profit and earnings each quarter |
| In the US, key hydrogen orders won for BP and Sunoco refineries in Ohio. Hydrogen production comes on stream at Citgo refinery in Illinois |
| Comprehensive on-site fluorine generation system installed by BOC Edwards at LG Philips flat panel manufacturing facility in Korea |
| Forming joint venture with Sinopec Shanghai Petrochemical Company, a subsidiary of Sinopec, China's leading petrochemical company |
| Operating cash flow reaches £758.5 million and net borrowings reduced to £962.4 million |
| Packaged gas business in the US sold, leaving a more focused and profitable north American Industrial and Special Products business |
| Gist invests in new 100,000 square foot refrigeration facility to support growing demand from Marks & Spencer |