Record results as Rigby Group soars past £2bn
Rigby Group has unveiled its best-ever figures in its 42-year history, after soaring past £2bn annual revenues.
Profits and revenues rose by more than one-fifth at the group, which operates across Europe, the Middle East and Asia.
The group, which is headquartered in Stratford-upon-Avon, is targeting revenues of £4bn by 2025.
Steven Rigby, Rigby Group’s chief operating officer, said: “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.”
Rigby Group’s interests include technology, airports, hotels, aviation, real estate and finance.
Its technology division – SCC EMEA Group, which accounts for three-quarters of Rigby Group’s revenues – has been “greatly boosted” by its acquisition in April 2016 of Flowline.
Steve Rigby, chief operating officer at Rigby Group
Rigby Group’s airports division, Regional & City Airports, owns Coventry, Exeter and Norwich airports. In May, after the financial year end, it bought the corporate jet centre at Birmingham Airport from Marshall Aviation Services in a multi-million-pound deal.
Sir Peter Rigby, chairman and chief executive, said: “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.
“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.”
Other operating highlights for the group included the completion of the redevelopment of the former passenger facilities at Coventry Airport with the creation of Imperial Park, a manufacturing and distribution hub covering 30 acres.
Pre-tax profits of continuing operations, before exceptional items, for the year to March were £27.9m. Revenues from continuing operations reached £2.17bn.
