Norwich Airport owner delivers further record growth
Rigby Group (RG) plc, the parent company for a portfolio of family-owned and highly successful businesses operating across Europe, the Middle East and Asia, has achieved another record set of results for the financial year ending March 31.
The group – including Norwich Airport ownership – comprises six core divisions: technology, airports, hotels, aviation, real estate and finance, and has made further strategic acquisitions and divestments in the past 12 months.
Technology is the largest part of the group and its continued growth is driven by demand from businesses seeking outsourced and cost-effective solutions for cloud and digital services.
Elsewhere, the airports division continues to be a significant contributor of profitability for the group and further double-digit growth is expected in the current financial year.
Consolidated revenues from continuing operations were £2.771 billion – an increase of £398.3 million.
The Airports division delivered solid growth in both passengers and profitability. Revenues reached £58.1m, an increase of £12.9m. A major new hangarage development in Norwich was secured.
Chairman and chief executive Sir Peter Rigby said: “This is another strong set of financial results for the group which underlines our growth strategy.
“Increases in revenue and profitability have been achieved at a time when we have also continued to invest in our services, infrastructure and – most crucial of all – our people, ensuring we are in a position to meet our future group objectives.”
Steven Rigby, group chief operating officer, said RG had made a number of key acquisitions as well as successful strategic divestments during the period and would consider further acquisitions that were a good fit and deemed to add value.
Pics: RESULTS: From left, Stephen Rigby, Group Chief Operating Officer, Rigby Group (RG) plc, and Sir Peter Rigby, Chairman and Chief Executive.
GROWTH: Rigby Group plc is the parent company for a portfolio of family-owned and highly successful businesses, including Regional & City Airports, which owns and operates Norwich Airport.