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This MD&A contains forward-looking statements with respect to expected financial performance,
strategy and business conditions. The words "believe," "anticipate," "estimate," "plan," "expect,"
"intend," "may," "project," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
These statements reflect management's current beliefs with respect to future events and are
based on information currently available to management. Forward-looking statements involve
significant known and unknown risk and uncertainties. Many factors could cause our actual results,
performance or achievements to be materially different from any future results, performance or
achievements that may be expressed or implied by such forward-looking statements. Factors
which may cause such differences include, but are not limited to:
- Commercial real estate property values, vacancy rates and general conditions of financial liquidity for real estate transactions.
- Economic conditions, especially as they relate to consumer spending.
- Extreme weather conditions impacting demand for our services or our ability to perform those services.
- Political conditions, including any outbreak or escalation of terrorism or hostilities and the impact thereof on our business.
- Competition in the markets served by the Company.
- Labor shortages or increases in wage and benefit costs.
- The effects of changes in interest rates on our cost of borrowing.
- Unexpected increases in operating costs, such as insurance, workers' compensation, health care and fuel prices.
- Changes in the frequency or severity of insurance incidents relative to our historical experience.
- The effects of changes in foreign exchange rates in relation to the US dollar on the Company's Canadian dollar, Australian dollar and Euro-denominated revenues and expenses.
- Our ability to make acquisitions at reasonable prices and successfully integrate acquired operations.
- Changes in government policies at the federal, state/provincial or local level that may adversely impact our businesses.
The reader is cautioned against undue reliance on these forward-looking statements. Although the
forward-looking statements contained in this MD&A are based upon what management currently
believes to be reasonable assumptions, we cannot assure that actual results, performance or
achievements will be consistent with such statements. The forward-looking statements are made
as of the date of this MD&A and we do not intend, and do not assume any obligation, to update or
revise any such statements.
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