Q3 2020 Sales Performance
Integration update
Successful to date and firmly on track
Key milestones
Synergies
Divestment
gsk
96% of PCH sales on our book
with one system
71 systems cutovers in the last
7 months
■ 87% of co-locations complete
■ 39 out of 41 warehouses
closed
Future market cutovers,
employee transfers, and local
legal closes on track
■ £500m 2022 annual synergy
target remains on track, with
40% total in 2020, c.80% in
2021 and full amount in 2022
■ Continue to expect up to 25%
to be reinvested
Margin guidance maintained
Separation program on track
Transactions signed to meet
£1 billion proceeds target¹
Divested more than 50 growth
dilutive brands
■ Rationalisation and
strengthening of existing
portfolio
1 As of date of Q3 2020 results
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