GDP+ underlying revenue growth

We focus on Essential Products and services, funded by customers’ operating rather than capital budgets, giving resilience to revenues.

Key performance indicators

Attractive margins

Our attractive operating margins are sustained through the quality of customer service, the depth of technical support and value-adding activities.

Agile and responsive organisation

We encourage an entrepreneurial culture in our businesses through our decentralised organisation.

Acquisitions to accelerate growth

Carefully selected, value enhancing acquisitions accelerate the underlying growth and take us into related strategic markets.

Strong cash flow

A robust balance sheet and strong cash flow fund our growth strategy and provide healthy, growing dividends. Cash conversion was 113.3% this year and 101.6% over a five-year average.

Value Creation

We aim to create value by targeting ROATCE in the high teens.