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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 31 March 2017. The latest set of figures are the best in the Group’s 42-year history.
The Group comprises six core divisions: technology, airports, hotels, aviation, real estate and finance, and has made further strategic acquisitions in the past 12 months.
Group Highlights
Technology
SCC EMEA is a Technology Solutions Provider, supplying, integrating and managing customers’ IT products and services and is one of Europe’s largest independent IT groups. SCC has continued to invest and grow in cloud delivered managed services, with a new offshore support location opening up in Vietnam and the significant acquisition in France of Flowline, a company which has greatly boosted the Group’s development within mainland Europe.
Airports
Regional & City Airports (“RCA”) is a leading player in the regional airport sector operating through its ownership of Coventry Airport, Exeter International Airport and Norwich International Airport, as well as through the management of Blackpool Airport, City of Derry Airport and Solent Airport Daedalus. During the year ending 31 March 2017, RCA handled 189,000 flights and processed 1.7m passengers.
Hotels
The Eden Hotel Collection (“EHC”) is a well-established and widely recognised award winning luxury hotel brand within the UK. EHC currently owns or operates eight luxury hotels in the Midlands, the Cotswolds and South West with Bovey Castle Hotel in Devon the flagship hotel for the group.
Aviation
The Aviation division provides a diverse range of services to the aviation sector through the operation of a fleet of fixed wing aircraft and helicopters underpinned by a safety culture which flows through every aspect of the business. The helicopter fleet operates with a fleet of 13 helicopters from bases at Coventry, Newquay and Mount Pleasant (Falkland Islands) serving a variety of civilian and military clients including the Flag Officers’ Sea Training (FOST) contract, which provides helicopter support to the UK and NATO navies. The business also supports military operations in the Falkland Islands, including the provision of search and rescue services. The division’s 11 fixed wing aircraft operate from are bases in Exeter and Coventry, providing VIP charter and Air Medical Services, including the provision of emergency global repatriation service.
Real Estate
The real estate division engages in both commercial and residential development. Rigby & Rigby is one of London’s leading developers of prime residential property, both for resale and for private clients. The commercial business successfully completed its first sizeable development during the year with the redevelop of the former passenger facilities at Coventry Airport with the creation of Imperial Park, a modern manufacturing and distribution hub covering 30 acres.
Finance
Rigby Group’s Financial Services division hosts a variety of strategic investments along with investments in cash and structured products held by the ultimate holding company. The division includes Rigby Private Equity (RPE); Rigby Technology Investments, which invests in high-growth potential technology businesses and Rigby Capital, a specialist, standalone financial services business.
“While it is extremely pleasing that these results represent a record for our group, I am equally satisfied to see the evolving nature of the company’s financial profile, which continues to diversify into new and profitable directions. While technology remains a core contributor to the overall revenues, our divisions cover a wide range of sectors and interests. The success of our acquisition strategy of the past five years and ability to merge and integrate new businesses into the Group, is coming to the fore in these results. We expect this trend to continue in the years to come further delivering powerful returns on our investments.”
“All our divisions have made great strides over the past 12 months and we have continued to invest on building out our management teams to ensure we are well positioned for future growth opportunities. We have been one of the most acquisitive private groups in recent years and we continue to target strategic opportunities across our portfolio of interests.”
