Table of Contents Financial Highlights  2 Letter to Shareholders  4 Ten-Year Historical Financial Highlights  16 Subsidiary Profi les  18 Management’s Discussion and Analysis  20 Consolidated Financial Statements  46 Management’s Report to Shareholders  47 Independent Auditors’ Report  48 Notes to Consolidated Financial Statements  53 Corporate Directory  88 Corporate Information  89 Front cover image: Percé Rock, Gaspé, Québec