The management and staff at tunnelbuilder ltd send greetings and good wishes to all our readers and clients around the world at this festive time. While the international financial news has not always been good, there is a sense that things are moving in the right direction in both Europe and the US. Growth is flattening in China, causing Chinese corporations who have had a 20-year bull run in home markets to start looking for business elsewhere. At the recent Bauma China in Shanghai, tunnelbuilder representatives made contact with many such companies. It will be a privilege to introduce these standard bearers to the international tunnelling community, where they will receive our best attention.

It has been another year of consolidation for the tunnelling industry, with an average 35+live bids, and 500+ bids and awards advertised on tunnelbuilder front pages. We have also seen an increase in job advertisements, particularly for major projects in the Middle East.

Our advertising reach has increased significantly, with more companies wishing to avail themselves of our social and business media contact, where our newsletter subscribers have long since passed the 15,000 level. Indeed, for the first time we had more readers clicking through from our weekly newsletters than from search engine or direct selection.

The above represents cautious optimism for our industry, which has already proved exceptionally resilient during seven years of global economic hardship. If we toast anybody, then it has to be our thousands of followers who are working to improve the lot of mankind. Keep up the good work! We are behind you all the way. 52/14.