Investment case

 

 

Blended portfolio of defensive, cyclical and growth assets
Cash generative businesses that are relatively capital light
Highly entrepreneurial and decentralised management teams supported by lean corporate office
30 years of consistent trading profit outperformance
Strong track record of efficient capital allocation
Proven ability to quickly execute and assimilate acquisitions
Highly regarded brands
Embrace change through innovation
Positioned for international expansion in chosen niche areas
Aim for market leadership in operating sphere

Operational ROFE 28% (10yr avg) Operational ROIC 23% (10yr avg)		Trading profit 10yr CAGR 7%		Cash generation strong