Our strategic objectives

We focus on opportunities where our sector and market expertise, combined with our strong capital position, can create material value for our stakeholders.

    FY2017 progress   FY2018 outlook
Grow investment portfolio earnings   Percentage of Private Equity portfolio companies1
(by value) that grew earnings in FY2017
93%
 
  • Action’s pace of growth is expected to continue, with further expansion planned in France and Germany
  • Positive outlook for the portfolio invested in since the strategic review in 2012
  • Macro-economic pressures expected to continue, particularly in the high street retail sector
  • Portfolio to contain fewer problem legacy assets
Realise investments with good cash-to-cash returns   Private Equity proceeds
£982m
 
  • Expect realisations to be at least £750 million, subject to market conditions
Maintain an operating cash profit   Operating cash profit2 including Debt Management
£33m
 
  • New Infrastructure initiatives expected to generate cash income that will partially offset the loss of Debt Management income
  • Continue to focus on generating income where appropriate from the Private Equity portfolio
  • Cost discipline to be maintained
Use our strong balance sheet   £478m
invested in Private Equity
£131m
invested in Infrastructure
 
  • Plan to invest up to £750 million p.a. in four to seven Private Equity investments, whilst maintaining discipline on entry prices
  • Manage 3iN’s new investments actively and source further investment opportunities
  • Support Infrastructure’s new fund management initiatives in Europe and North America
Increase shareholder distributions   Dividend
26.5p
 
  • Committed to pay a base dividend of 16 pence per share in respect of FY2018
  • The amount of the additional dividend will be subject to the level of investment, realisations and balance sheet strength
1 Includes 22 companies valued on an earnings basis, Basic-Fit and Scandlines.
2 Operating cash profit is an APM. Further details are included on page 31 of our annual report

Corporate Factsheet (PDF)