Best year ever for Stratford’s Rigby Group

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Record year for the Rigby Group. Pictured from left, James Rigby, Sir Peter Rigby and Steven Rigby

LATEST figures for the Rigby Group are the best in the Group’s 43-year history.

Rigby Group (RG) plc, the parent company for a portfolio of family-owned and highly successful businesses operating across Europe, the Middle East and Asia, has published its final results for the year to 31st March 2018.

The latest set of figures are the best in the Group’s 43-year history. Revenues increased by more than £200million as the Group continued its strategic acquisition activity including the completion of the purchase of Bournemouth Airport.

The Group, which is headquartered in Stratford-upon-Avon, comprises six core divisions: technology, airports, hotels, aviation, real estate and finance, and has made further strategic acquisitions and investments in the past 12 months.

Group Highlights

  • Consolidated revenues from continuing operations, £2.37bn, up nine per cent year-on-year.
  • EBITDA (before exceptional items) for the continuing operations, £58.7m, up three per cent yaer-on-year.
  • Group pre-tax profit of continuing operations, before exceptional items, £24.2m (previous year £27.9m).
  • Consolidated net assets of £293.3m, up £7.1m year-on-year.
  • Pre-tax return of assets delivered 8.3 per cent down from 9.8per cent.
  • Gross cash at year end was £259.1m, up 46 per cent year-on-year.
  • Group aim is to reach a market value of £1bn and EBITDA of £100m.
  • The group continues to be active in the M&A markets across its portfolio interests and key acquisitions in the past 12 months and completed five deals during this financial period and a total of 25 since 2013.
  • The Group operates 115 different companies in 20 countries worldwide, employing more than 8,500 staff across the globe.

Technology

SCC EMEA Group

One of Europe’s largest independent IT solutions providers, SCC provides a wide portfolio of integrated services, including fully managed IT services, infrastructure optimisation, unified communications and data centre services, to customers operating in a broad range of public and private industry sectors including Financial, Logistics, Utilities, Communications, Manufacturing, Services and Retail. Demand for digital and cloud services driving continued business growth.

  • Consolidated revenues from continuing operations, £1.83bn, up nine per cent year-on-year.
  • EBITDA (before exceptional items) for the continuing operations, £44.7m, up ten per cent year-on-year.

Airports

Regional & City Airports (“RCA”) is a leading player in the regional airport sector through its ownership of Coventry, Exeter, Bournemouth and Norwich airports, management contracts for Blackpool, City of Derry and Solent airports and XLR Executive Jet Centres at Birmingham, Exeter and Liverpool Airports. RCA has built a reputation as an efficient, safe and capable operator, driving improvements to route development, commercial revenues, operating costs and capital investment. During the year ending 31 March 2018, RCA handled 2.3m passengers and 215,000 aircraft movements. Strong passenger growth in Exeter and Norwich particularly and further investment anticipated across the airport estate in the coming year.

  • Consolidated revenues from continuing operations, £45.2m, up 26 per cent year-on-year.
  • EBITDA (before exceptional items) for the continuing operations, £7.5m up 32 per cent year-on-year.

Hotels

The multi-award winning Eden Hotel Collection (EHC) is recognised as one of UK’s Top Five privately owned groups of luxury boutique hotel operators. EHC comprises eight boutique country house hotels across the Midlands, Cotswolds and South West of England and it dominates in the coveted 4 and 5 AA Red Star market. Hotels include the flagship Bovey Castle Hotel, in Devon and Mallory Court, in Warwickshire. More than 73,000 room nights sold in year to March 2018.

  • Consolidated revenues from continuing operations, £19.5m, up ten perc cent year-on-year.
  • EBITDA (before exceptional items) for the continuing operations, £0.3m.

Aviation

The aviation division comprises British International Helicopters (BIH), which supports civil and military aviation customers through its fleet of 13 helicopters based at Coventry, Newquay and Mount Pleasant (Falkland Islands); global air medical service Capital Air Ambulance and Patriot Aviation, an aircraft ownership company that leases aircraft to BIH (O) and Capital for utility, VIP charter and Air Medical Services.

  • Consolidated revenues from continuing operations, £21.3m, up seven per cent year-on-year.
  • EBITDA (before exceptional items) for the continuing operations, £0.5m.

Real Estate

Allect International Design Group is the newly launched overarching brand for Rigby Group’s residential design brands, comprising the award winning, Super-Prime specialist developer Rigby & Rigby and interiors and yacht design specialists Helen Green Design and Lawson Robb (acquired after full year period). Commercial developer Rigby Real Estate recently completed the 30-acre Imperial Park manufacturing and distribution hub and is exploring opportunities at Norwich and Exeter.

Consolidated revenues from continuing operations, £49.5m, down 15 per cent year-on-year.

  • EBITDA (before exceptional items) for the continuing operations, £4.2m up ten per cent year-on-year.

Finance

Rigby Group’s Financial Services division, which consists of FluidOne, Nuvias and Rigby Capital. Sales, increased revenues by 16 per cent to £411m with the growth driven by Nuvias. EBITDA fell to £7.7m, down 15 per cent on prior year, following heavy investment in the international Nuvias platform with start-up businesses launched in Dubai, Austria, Switzerland, Demark and Finland.

  • Consolidated revenues from continuing operations, £411.4m, up 16 per cent year-on-year.
  • EBITDA (before exceptional items) for the continuing operations, £7.7m, down 15 per cent year-on-year.

Steven Rigby, group chief operating officer, said: “This latest full financial year is another record period for the group. We continue to expand and invest across our portfolio of interests. Our aim is to create a £1bn market value diversified group with EBITDA of £100million that will make Rigby Group one of the most successful wholly-owned family businesses the UK has ever produced. We are seeing the fruits of the acquisitions we have made over the past few years and there are some strong examples of collaboration and cross-selling driving growth. We have also added to our group via acquisitions including Bournemouth Airport and remain interested in further buying opportunities.”