Delivering resilient returns.
Essential services to attractive markets
- We provide essential services to our customers.
- Operating in attractive segments of large, resilient markets.
- Scale player in each market with significant scale and capability barriers to entry.
Driving business improvement initiatives
- Focus on continuous improvement to commercial effectiveness and operational efficiency.
- Development of regional operating model in Fuels to improve domestic and commercial sales models and optimise fleet efficiency.
- Simplified and more scalable organisational structure in Food to support future growth.
Growth investment
- Consolidation of the fragmented UK bulk fuel distribution sector with two acquisitions in FY25 and an active pipeline developed.
- Increasing market share in ambient grocery distribution through new warehouse development and targeted M&A. 82% increase in warehouse capacity since 2020.
Delivering financial return
- All businesses are consistently profitable.
- Strong cash generation.
- Robust balance sheet.
- Strong ROCE.
- Excellent dividend track record.
8.4p
total dividend per share. Increased dividend for 14 consecutive years
