SCC has delivered a strong set of numbers for its fiscal year, contributing heavily to the overall permeance of the Rigby Group.
As a business, the Rigby Group includes airports and hotels as well as the technology focus in SCC. Overall, for the 12 months ended 31 March, turnover came in at £3.9bn, a 16% improvement on last year. Adjusted operating profit more than doubled to £163.2m (FY22, £76.6m), with the sale of Nuvias during the year making a positive impact.
SCC is the core of the Group and the channel arm delivered 24% growth in revenues to £3.2bn with 7% growth in operating profit to £68.9m. That was largely the result of the strength of the French business, where revenues were up 26% to over €2.6bn and the business delivered a 42% growth in operating profit to €66.2m.
UK revenues were up 13% to £877m, with last May's acquisition of Visavvi already contributing £22.1m of revenue and £0.3m of operating profit in 11 months. Just at the end of the period, in march this year, SCC picked up Vohkus, which should start making an impact.
The Spanish arm of SCC was also in rude health building on the momentum of last year, with 22% growth in turnover to €107m. Operating profit of €3.2m was a 64% improvement over the previous twelve months.
Rigby Group Technology Investments has been used as a way for the firm to hold minority and majority stakes in a number of businesses, including Infinigate, CloudClevr and Nuvias Unified Communications.
The sale of Nuvias helped the operation generate cash, with turnover up by 2% year on year (YoY) to £110.3m.
“Technology is the driving force behind Rigby Group and sits at the heart of our investment strategy. Being family-owned, we are able to remain agile and throughout FY23 we have continued to take decisive action and deliver strategic initiatives that align with our long-term vision, resulting in another record year,” he said.
“This will remain the case as we look ahead to 2024 and beyond, and we remain firmly committed to investing in our business, our people, and new technologies for strategic and sustainable growth,” he added.
The Rigby Group is set to celebrate its 50th year in 2025, and the latest set of results cheered its founder and chairman Peter Rigby.
“Our performance right across the group is testament to an organisation that puts people at the heart of all we do, and continually reinvests in order to innovate and grow. We have continued to develop innovative new business initiatives and investment opportunities, and each of our core divisions continue to make strategic investments,” said Rigby.
“My family and myself remain committed to the Rigby Group for the long term – with technology at its heart – and maintain our core principles of hard work, entrepreneurship, good governance and philanthropy.”