Rigby Group (RG) plc, the parent company for a portfolio of family-owned businesses operating across Europe, the Middle East and Asia, has published its final results for the year to March 31, 2018. The latest set of figures are the best in the Group’s 43-year history.
Revenues increased by more than £200 million as the Group continued its strategic acquisition activity including the completion of the purchase of Bournemouth Airport.
The Group, with interests in Dorset including Bournemouth Airport, 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.
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.
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.
The multi-award winning Eden Hotel Collection (EHC) is widely 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, renowned for its cuisine and the stunning £7m Elan Spa. More than 73,000 room nights sold in year to March 2018.
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.
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.
Rigby Group’s Financial Services division, which consists of FluidOne, Nuvias and Rigby Capital. Sales, increased revenues by 16% to £411m with the growth driven by Nuvias. EBITDA fell to £7.7m, down 15% on prior year, following heavy investment in the international Nuvias platform with start-up businesses launched in Dubai, Austria, Switzerland, Demark and Finland.
Steven Rigby, Group COO, commented: "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 £1 billion market value diversified group with EBITDA of £100 million 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."