Britain’s Rigby Group has made a number of acquisitions and is aiming to become one of the country’s largest family businesses,
The Telegraph
reported.
Rigby Group’s largest holding is SCC, a computer technology business founded by the group’s chairman, Sir Peter Rigby, in 1975. The group also has airport, aviation, hotel, real estate and financial services interests, the article said.
For the year ended March 31, the group posted revenues of £1.79 billion and pre-tax profit of £22.3 million, the article said.
Sir Peter Rigby owns 80% of the business; his family owns the rest, the
Telegraph
report said.
Sir Peter’s son, chief operating officer Steven Rigby, told the
Telegraph
that the group plans to double revenues to £4 billion over the next 10 years. There are no plans to take the company public, he said.
Steven Rigby’s brother James is also an executive at the company, the article said.
“The targeted expansion is expected to come from a combination of organic growth and acquisition,” the
Telegraph
article said. “The company has averaged annual acquisition spending of £40 million for the past few years, with this expected to continue at this level, largely from internal financing.”
The report noted that in 2015, when the business recorded a profit of £18 million on revenues of £1.6 billion, the family received dividends of £3.5 million. The dividend figure for 2016 is not known, the article said. (Source:
The Telegraph
, Oct. 9, 2016.)
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