Our business model
We work with our customers to understand their technical challenges, then design, manufacture and sell innovative products and processes to solve them.
Our business model helps us focus our resources and make the most of our strengths to deliver value for all our stakeholders.
Customer relationships
We're able to invest in long-term relationships with our customers. This helps us to understand their needs and design solutions to solve their challenges.
Our customers
- 106.8m spent on developing new products and improving our existing products.
- 67 key locations worldwide providing local customer support and technical expertise. We recently opened a new technology centre in Bangalore to support our growing customer base in India.
People
Our 5,256 talented people around the world are committed to delivering our purpose, vision and strategy.
Our suppliers
- £42.5m committed to global capital expenditure projects.
- 503 global suppliers for direct goods and services to UK manufacturing operations.
Supplier relationships
Our global and local suppliers provide us with the high-quality components and materials we need, as well as supporting our infrastructure and operations.
Our communities
- Ongoing education outreach programme reached around 12,000 students.
- £0.3m in charitable donations during the year.
Research & development
Our strong IP portfolio and significant commitment to R&D expenditure helps set us apart from competitors and delivers longterm value.
Our people
- £288.5m in salaries, bonuses, social security and pension contributions.
- Introduced a new job architecture allowing us to align jobs globally based on types of work. This will provide our employees with clearer career pathways and will improve retention and development.
Financial resources
We've funded our growth and infrastructure by reinvesting our profits. We also have a strong cash position, helping us to fund future development and deliver our strategy.
Our planet
- 14% reduction in our market-based statutory greenhouse gas emissions compared to FY2023.
- Self-generating 9% of our global electricity consumption through renewable sources.
Our shareholders
- Total dividends of £55.5m for the year, in line with FY2023.
Figures as at date of 2024 Annual Report.