Calculate the assumptions for the annual growth rate and explain how did you end up with those assumptions.

2001 1999 (GBP) 1999 (% sales) 2000 (GBP) 2000 (% sales) (GBP) 2001 (% sales) Income Statement Tumover Cost of sales Gross profit 303.7 127.7 176.0 100.0 42.0 58.0 330.1 130.9 199.2 100.0 39.7 60.3 374.1 149.0 225.1 100.0 39.8 60.2 52.3 3.0 03 Operating expenses: excluding exceptional costs exceptional costs Restructuring costs Net interest expense Profit before tax Tax expense Profit (loss) after tax 151.4 4.5 16.6 0.1 3.4 8.0 (4.6) 49.9 1.5 5.5 0.0 1.1 2.6 (1.5) 166.2 0.0 2.7 1.5 28.8 10.4 50.3 0.0 0.8 0.5 8.7 3.2 5.6 195.7 11.2 1.0 4.4 12.8 3.5 9.3 1.2 3.4 0.9 2.5 18.4 Ordinary dividends Profit (loss) retained 10.9 (15.5) 3.6 (5.1) 10.9 7.5 3.3 2.3 10.9 (1.6) 2.9 (0.4)