We engage with a wide range of stakeholders, both at Group and subsidiary level. Understanding how these relationships work is crucial to ensuring our Group’s continued sustainability and ensuring we are able to adapt and make businesses fit for the future.
People
As an employer committed to providing the right environment in which to work, we insist that people connected with the Group can work safely, are trained correctly, behave in the right way, and comply with all local legal and regulatory requirements, thus ensuring the sustainability of the business.
What matters
- Brand
- Safe working environment
- Remuneration
- Wellbeing
- Job security
- Career development
- Sustainability
What we did in 2023
- Carried out our fourth all-employee engagement survey, which included a Safety Culture survey to gain more feedback on this topic
- Developed the workforce forums to maintain
dialogue between executive directors and operating company employees - Established a steering group to identify short and long term objectives for a Global Women’s Network
- Restructured the management of health and safety, moving away from having a Group Health & Safety head to having two geographic heads, covering UK (including India and Australia) and the US, with these individuals reporting directly into our Group Presidents
Companies
Our decentralised autonomous model places our operating companies close to their end markets and under the management of their own board of directors, providing agility, customer intimacy and entrepreneurial activities. Our companies are able to respond rapidly to opportunities and to changes in their competitive environment and are responsible for the delivery of our organic growth targets and the success of our Group strategy.
What matters
- Operational and financial performance
- Cash allocation
- Product Innovation
- Talent and development
- A strong health & safety culture
What we did in 2023
- The Group’s record results are testament to the benefits of our autonomous operating model. Performance is continually monitored by the Board and underperformance is addressed in a timely and appropriate basis
- Invested £15m in capital projects to support growth
- We acquired two US-based composites businesses, Enduro and United Fiberglass. Both manufacture products and innovative solutions that deliver long term value for challenging applications in building construction, cable management, infrastructure, and process operations
- We acquired a US-based galvanizing business, Korns Galvanizing, in Johnstown PA
- Continued our innovation workshops
Customers
Our operating companies work closely with their customers to understand their needs and provide innovative solutions. Most businesses are accredited with a number of ISO quality standards to provide comfort to our customers that we are able to deliver solutions which meet their exacting requirements.
What matters
- Quality products delivered on time and to the correct specification
- Product innovation
- Sustainability
- A strong health & safety culture
- Being treated with respect
- Working as a partnership
What we did in 2023
- Continued to invest in product development
- Continued to focus our Sustainability efforts on minimising the greenhouse gas emissions from the energy we and our supply chain use
- Acquired businesses central to our purpose of providing sustainable infrastructure products and services
Suppliers
We actively engage with our suppliers, working closely to ensure that they provide the right quality of raw materials and services to support our commitment to quality products and to maintaining fair cashflow requirements.
What matters
- Mutual beneficial arrangements
- Fair financial terms
- Long-term relationships
- Quality
- Sustainability
What we did in 2023
- Operating companies regularly met with existing and potential suppliers to discuss continuity and quality of supply
- Group payment terms improved to 50 days (2022:61)
The Environment
We play a key role in protecting the world through both the provision of our sustainable infrastructure products and services and through how we minimise our environmental impact as we deliver those products and services.
What matters
- Sustainable products
- Greenhouse gas emissions
- Biodiversity
- Environmentally friendly solutions
What we did in 2023
- Established our 2022 baseline scope 3 greenhouse gas emissions across all relevant categories
- Submitted our science-based targets for approval by SBTi. Approval granted in December 2023
- Introduced BRE LINA, giving operating companies the opportunity to obtain Environmental Product Declarations (‘EPD’) for their products
- Developed local Carbon Reduction Plans for all operating companies, identifying site specific opportunities to reduce emissions
- Established an annual Sustainability Week across the Group, encouraging all sites to get involved with awareness-raising events and activities
- Established a cross-industry scope 3 Support Group to support others going through their scope 3 emissions reporting and reduction journey
Local communities
Subsidiaries engage with their local communities on a business-by-business basis supporting local charities as well as engaging with local authorities when seeking to develop their businesses.
What matters
- Environmental issues
- Employment
- Health & Safety
What we did in 2023
- Supported our operating companies to develop local Sustainability initiatives
- Developed our charity matching programme, supported by Group
- Encouraged our operating companies to engage with their local communities, supporting local charities on a business-by-business basis
- Engaged with an agricultural project set up to support children with special needs
Investors
Our Executive Chair & CFO engage with our investors through a series of meetings, site visits and presentations, ensuring that they set out our strategy for delivering long-term sustainable profit growth. Investors also feed back their views on the major corporate governance issues of the day.
What matters
- Solid dividend performance and long-term share price growth; and longterm sustainable profit growth
- Operational efficiency
- Sustainability
- Robust corporate governance and business ethics
What did in 2023
- Maintained our focus on sustainability
- Maintained a CDP B score
- The Executive Chair and CFO met regularly with investors and analysts
- Introduced investors to the market dynamics and products of our composites business
- Increased our full year dividend by 23%
People
As an employer committed to providing the right environment in which to work, we insist that people connected with the Group can work safely, are trained correctly, behave in the right way, and comply with all local legal and regulatory requirements, thus ensuring the sustainability of the business.
What matters
- Brand
- Safe working environment
- Remuneration
- Wellbeing
- Job security
- Career development
- Sustainability
What we did in 2023
- Carried out our fourth all-employee engagement survey, which included a Safety Culture survey to gain more feedback on this topic
- Developed the workforce forums to maintain
dialogue between executive directors and operating company employees - Established a steering group to identify short and long term objectives for a Global Women’s Network
- Restructured the management of health and safety, moving away from having a Group Health & Safety head to having two geographic heads, covering UK (including India and Australia) and the US, with these individuals reporting directly into our Group Presidents
Companies
Our decentralised autonomous model places our operating companies close to their end markets and under the management of their own board of directors, providing agility, customer intimacy and entrepreneurial activities. Our companies are able to respond rapidly to opportunities and to changes in their competitive environment and are responsible for the delivery of our organic growth targets and the success of our Group strategy.
What matters
- Operational and financial performance
- Cash allocation
- Product Innovation
- Talent and development
- A strong health & safety culture
What we did in 2023
- The Group’s record results are testament to the benefits of our autonomous operating model. Performance is continually monitored by the Board and underperformance is addressed in a timely and appropriate basis
- Invested £15m in capital projects to support growth
- We acquired two US-based composites businesses, Enduro and United Fiberglass. Both manufacture products and innovative solutions that deliver long term value for challenging applications in building construction, cable management, infrastructure, and process operations
- We acquired a US-based galvanizing business, Korns Galvanizing, in Johnstown PA
- Continued our innovation workshops
Customers
Our operating companies work closely with their customers to understand their needs and provide innovative solutions. Most businesses are accredited with a number of ISO quality standards to provide comfort to our customers that we are able to deliver solutions which meet their exacting requirements.
What matters
- Quality products delivered on time and to the correct specification
- Product innovation
- Sustainability
- A strong health & safety culture
- Being treated with respect
- Working as a partnership
What we did in 2023
- Continued to invest in product development
- Continued to focus our Sustainability efforts on minimising the greenhouse gas emissions from the energy we and our supply chain use
- Acquired businesses central to our purpose of providing sustainable infrastructure products and services
Suppliers
We actively engage with our suppliers, working closely to ensure that they provide the right quality of raw materials and services to support our commitment to quality products and to maintaining fair cashflow requirements.
What matters
- Mutual beneficial arrangements
- Fair financial terms
- Long-term relationships
- Quality
- Sustainability
What we did in 2023
- Operating companies regularly met with existing and potential suppliers to discuss continuity and quality of supply
- Group payment terms improved to 50 days (2022:61)
The Environment
We play a key role in protecting the world through both the provision of our sustainable infrastructure products and services and through how we minimise our environmental impact as we deliver those products and services.
What matters
- Sustainable products
- Greenhouse gas emissions
- Biodiversity
- Environmentally friendly solutions
What we did in 2023
- Established our 2022 baseline scope 3 greenhouse gas emissions across all relevant categories
- Submitted our science-based targets for approval by SBTi. Approval granted in December 2023
- Introduced BRE LINA, giving operating companies the opportunity to obtain Environmental Product Declarations (‘EPD’) for their products
- Developed local Carbon Reduction Plans for all operating companies, identifying site specific opportunities to reduce emissions
- Established an annual Sustainability Week across the Group, encouraging all sites to get involved with awareness-raising events and activities
- Established a cross-industry scope 3 Support Group to support others going through their scope 3 emissions reporting and reduction journey
Local communities
Subsidiaries engage with their local communities on a business-by-business basis supporting local charities as well as engaging with local authorities when seeking to develop their businesses.
What matters
- Environmental issues
- Employment
- Health & Safety
What we did in 2023
- Supported our operating companies to develop local Sustainability initiatives
- Developed our charity matching programme, supported by Group
- Encouraged our operating companies to engage with their local communities, supporting local charities on a business-by-business basis
- Engaged with an agricultural project set up to support children with special needs
Investors
Our Executive Chair & CFO engage with our investors through a series of meetings, site visits and presentations, ensuring that they set out our strategy for delivering long-term sustainable profit growth. Investors also feed back their views on the major corporate governance issues of the day.
What matters
- Solid dividend performance and long-term share price growth; and longterm sustainable profit growth
- Operational efficiency
- Sustainability
- Robust corporate governance and business ethics
What did in 2023
- Maintained our focus on sustainability
- Maintained a CDP B score
- The Executive Chair and CFO met regularly with investors and analysts
- Introduced investors to the market dynamics and products of our composites business
- Increased our full year dividend by 23%