Delivering shareholder return. We are committed to delivering value to shareholders and ensuring they benefit from our success.
1. Strong Business Model
- Experienced leadership teams with core capabilities in defence and security
- Subsidiaries operate with a significant degree of autonomy, enabling agility
- Group operates a light-touch but rigorous financial and strategic control regime
2. Consistent Dividend Track Record
- Committed to a progressive dividend policy
- Dividend increased every year since IPO in 2006
- Strong balance sheet in place with robust funding
3. Access to Attractive Growth Markets
- Use our agility and innovation to identify niches with attractive prospects and sustainable competitive advantage
- Ensure subsidiaries have close working relationships to benefit from each other's technical capabilities, customer relationships and market knowledge
4. Financial Strength
- Strong balance sheet gives customers confidence to award contracts
- Group underpinned by long term contracts and strong pipeline
- All acquisitions funded by cash / debt since 2008
5. Continued Organic and Acquisitive Growth
- Multiple opportunities to accelerate growth by making selective, targeted acquisitions in the UK and overseas
- Pipeline of businesses regularly reviewed, considering both stand-alone and bolt-in acquisitions
- Strong record of growing acquired businesses
6. Visibility of future earnings provided by substantial order pipeline
- Order book at 30 April 2018 £102.5m (30 April 2017 - £108.6m).
- 44% of 2018/19 externally forecast revenue on contract at 30 April 2018 (55% equivalent for 2017/18).
- Order book extends out to 2027.