Rigby Group (RG) plc, the parent company for a portfolio of family-owned and highly successful businesses operating across Europe and the Middle East and headquartered in the Midlands, has published its final results for the year to 31 March 2016.
The Group – which comprises six core divisions covering technology, airports, hotels, real estate, financial services and aviation – announced an increase in revenues of £1.79bn up 10.8% on the previous year. Group EBITDA rose to £54.4m, up 47.6%. Profit before tax rose 23.5% to £22.3m compared with the previous 12 months.
The Group, which was formed 41 years ago by Sir Peter Rigby and is run by him with his sons Steven and James, is on course to double in size by 2025, creating a £1bn market value diversified business. This would make it one of the most successful wholly-owned family businesses the UK has ever produced.
Rigby Group Highlights
· Consolidated revenues from continuing operations up by 10.8% to £1.79bn (2015: £1.61bn);
· EBITDA (before exceptional items) for the continuing operations up 47.6% to £54.4m (2015: £36.8m);
· Group pre-tax profit of continuing operations, before exceptional items, of £22.9m (2015: £20.9m);
· Group total pre-tax profit of £22.3m (2015: £18.1), an increase of 23.5%;
· Consolidated net assets of£282.3m (2015: £257.2m);
· Year-end net cash (cash less debt plus current asset investments) of £62.1m (2015: £116.0m);
· Gross cash at year end was £109.5m (2015: £135.7m);
· Current asset investments at year end of £44.3m (2015: £59.0m);
The group, whose head office is in Stratford-upon-Avon, continues to be active from a merger and acquisitions markets across its portfolio interests, with five acquisitions completed in the year and three post year end.
Sir Peter Rigby, Founder and CEO of the Rigby Group, said: “With two generations of the family at the helm, Rigby Group has built a distinguished reputation as both an investor and business operator; renowned for its independent thinking, seamless execution and a peerless approach to acquiring and nurturing businesses to unleash their potential. This approach has underpinned the success of the Group today as shown in these results.”
Steven Rigby, Group Chief Operating Officer, said: “The hard work of the last three years is now paying off. We no longer have a single business but a capable Group, which in time will transform into one of the UK’s most profitable private companies.
“We have exciting new divisions set to transform the landscape of the Group and it is clear in time that the business will have a number of material £100m plus value divisions. 2016 marks the Rigby Group’s transformation from an organisation focused almost entirely on technology services to a diverse vibrant group showing profitable growth across each of its divisions.”
