Delivering consistent attractive financial returns.
Essential services to attractive markets
- Leading player in each of our specialist 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
Leveraging 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
Investment in growth and targeted acquisitions
- Increasing market share in ambient grocery consolidation by developing a national network of scale
- 82% increase in warehouse capacity since 2020. Currently 4.4% market share and the leading specialist provider in the UK
- Noel Booth & Sons and Harrison Oils acquired during the year
Delivering financial return
- All businesses are consistently profitable
- Strong cash generation
- Robust balance sheet
- Strong ROCE
- Excellent dividend track record
8.7p
total dividend per share in FY26. Increased dividend for 15 consecutive years
