Business model

Delivering value to shareholders

We add value through the management and effective control of our subsidiary businesses, delivering capital growth together with a progressive dividend policy.

Development and delivery of our growth strategy

We focus on developing our engineering services both organically and by acquisition where we can broaden our service offering to existing and new clients. Organic growth is achieved through the alignment of our operating subsidiaries with their clients’ day-to-day service requirements on their key infrastructure assets. Our responsiveness and ability to provide an integrated solution are differentiators in our markets.

The Group also continues to look for complementary acquisition opportunities where businesses have strong relationships in regulated markets.

 

Ensuring the safe delivery of our operations

Safety remains the Group’s priority. Our safe operations are managed and delivered locally by our subsidiary businesses alongside their safety advisors who have specific knowledge in the individual environments.

Attention to delivering services safely ensures the continued improvement in our accident incidence rate, which has improved by over 90% in the last nine years and is materially lower than the industry average.

 

Ensuring the consistent delivery of quality

A key factor in our success in our markets is the consistent delivery of quality. The type of work the Group undertakes involves a high volume of low-cost tasks throughout the UK’s infrastructure networks.

We are committed to ensuring we consistently deliver quality and our businesses focus on maintaining and improving standards in logistics, training, technology, corporate social responsibility and in the management of their supply chain. We strive to continue to develop and improve our business processes with key initiatives such as our aftercare service programmes and supply chain workshops.

 

Ensuring thorough risk management

Our subsidiary businesses are governed by a system of controls which include overarching requirements to adhere to Group minimum standards monitored by internal audit processes to ensure compliance. Internal controls include risk management, control environment and activities, information and communication and the evaluation of effectiveness to deliver robust commercial risk management.

Regular operational and financial reporting is supported by monthly management meetings, attended by a Group Executive member, Executive Management Committee meetings and monthly Main Board meetings.

Each subsidiary business is required to have a management system in place certified to ISO:9001.

 

Development of long‑term positions in target markets

We provide integrated engineering services concentrating on supporting the day-to-day operational requirements of some of the country’s key infrastructure, where we fulfil a high volume of low-cost tasks. Our work covers asset care and maintenance, both planned and reactive, as well as emergency repair services under long-term framework agreements.

Our responsive integrated engineering services, and consistent delivery, mean that we work on some of the largest frameworks designed to deliver asset care and maintenance services fuelled by our clients’ operational expenditure budgets.

 

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Investment case
Growth is delivered through the development of long-term relationships with clients responsible for the renewal and maintenance of essential operational assets in the Energy, Environmental and Infrastructure markets.

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