best investor communication award

sponsored by Rothschild & Co. Global Advisory

The 2023 shortlist: 

4imprint Group plc

London-based 4imprint is a direct marketer of promotional products with operations in North America, the UK and Ireland. The group produces an extensive range of merchandise that is custom printed with the logo or name of an organisation to promote a brand, service, product or event.

4imprint are excellent communicators that maintain a regular dialogue with stakeholders. The group’s Annual Report is well-presented and concise, and the corporate website is easy to navigate and well sign-posted, in addition to containing a wealth of content.

ESG: 4imprint achieved CarbonNeutral® status in 2021 and have maintained this in addition to enhancing it with further decarbonisation initiatives, such as the installation of a $2m solar array at the group’s Oshkosh Distribution Center.

4imprint has an ESG combined score* of B-

Barratt Developments plc

Based in Leicestershire, Barratt Developments is the nation’s leading housebuilder. The group’s business involves acquiring land, obtaining planning consents and building high quality homes – all of which is supported by expertise in land, design, construction and sales and marketing.

Barratt developments scored highly in the bench marking exercise that was conducted, particularly for its Annual Report, which contained many best practice features. The group recently launched an Investor Relations app, a unique feature, that helps differentiate the company from its peers.

ESG: In Barratt’s industry’s specific ESG 2023 annual benchmarking, conducted by NextGeneration, the group was ranked as the “leading national sustainable housebuilder”, achieving the Gold Award, which it has now secured for the eighth consecutive year.

Barratt Developments has an ESG combined score* of A- 

Breedon Group plc

Breedon is a leading vertically-integrated construction materials group based in Derby. The group uses its core assets to produce valued-added downstream products, pulling through its aggregates and cement to deliver asphalt, ready-mixed concrete and surfacing solutions to the whole construction supply chain.

Breedon’s Investor Relations team were notably consistent, transparent communicators, thanks to regular informative Capital Markets Days. Despite being a Small cap, the Voting Panel agreed the group punched well above its weight in terms of its investor relations approach and output.

ESG: Breedon played a pivotal role in the launch of the Peak Cluster project in May 2023, a world-first initiative with key partners working together to create a net zero future for the cement and lime industries in the Peak District. 

Breedon Group has an ESG combined score* of C+

Britvic plc

Britvic is an international business rich in history and heritage, based in Hemel Hempstead. The group was founded in the 1930s and has since grown into a global organisation with 39 much-loved drinks brands sold in over 100 countries.

Britvic has consistently demonstrated its investment in corporate communications and, as such, is a regular nominee on the Best Investor Communication shortlist. The group displayed strong cross channel reporting, resulting in Britvic being one of the top performers in the benchmarking exercise for both its Annual Report and the Investor section of its website.

ESG: Britvic hosted its first sustainable supplier summit at its head office, inviting key European suppliers to update contracts to align to sustainability targets and significantly cut carbon emissions. The group also welcomed its second cohort of students with disabilities and diverse abilities to its supported internship scheme.

Britvic has an ESG combined score* of B+ 

discoverIE Group plc

Surrey-based discoverIE is an international group of businesses that designs and manufactures customised electronic components for industrial applications. The group consists of over 20 businesses that create innovative electronics to make a difference to the planet and people’s lives.

The Voting Panel observed that discoverIE’s IR team were always approachable and transparent in their communication. The group’s Annual Report contained some excellent sustainability content and its website provided context around the business and end markets.

ESG: discoverIE has an ESG combined score* of C+ 

Next plc

Leicester-based Next plc is one of the UK’s leading clothing retailers through both traditional stores and online. The group has around 500 stores in the UK and Eire and an online presence in over 70 countries selling the NEXT brand in addition to over 700 other fashion, home and beauty brands.

Next plc was considered by the Voting Panel to set a high bar  in the UK for guidance and investor communication. The group’s KPIs are well set out and the IR team maintains a consistent style and dialogue.

ESG: Next plc has an ESG combined score* of B+

Severn Trent plc

Based in Coventry, Severn Trent is one of Britain’s largest water companies. The group impacts on the lives of millions of people across the Midlands, from the outskirts of Sheffield, down to Bristol, and into north and mid-Wales.

Severn Trent was commended by the Voting Panel for its strong communication during what was a challenging year for water companies. The group held a recent Capital Markets Day to set out its 2025-30 business plan, which outlined its largest ever investment plan. This included video streaming for those unable to attend. Severn Trent was one of the highest scoring companies in the benchmarking exercise for both it’s Annual Report and Investor website.

ESG: As part of a £1bn equity raise in September, Severn Trent launched a five-year business plan putting ESG front and centre. Key themes of the plan including its route to operational Net Zero by 2030 and a £550m affordability package helping vulnerable customers to continue to afford their water bill. 

Severn Trent has an ESG combined score* of C+

Smiths Group plc

London-based Smiths Group designs, manufactures and delivers smarter engineering solutions for mission-critical applications. The group has four businesses and has built leading positions in many key segments based on its technology and service differentiation.

Smith’s Group was highly commended in the benchmarking exercise due to the group’s strong corporate website, which does an excellent job of communicating its four businesses, in addition to the overall group strategy.  Smith’s strong investor tools are supplemented with annual Capital Market Days, which include unique features such as product demos and a detailed facility tour.

ESG: Smiths achieved three important ESG milestones in the year. Completion and publication of an ESG double materiality assessment. Completion and launch of Smiths roadmap to Net Zero and SBTi approval of Scopes 1-3 SBT submission.

Smiths has an ESG combined score* of B- 

_{*All ESG combined scores are based on data supplied by Refinitiv}

transaction of the year award

sponsored by Gowling WLG

The 2023 shortlist: 

Ascential plc

Ascential takes the world’s leading brands to the heart of what’s next for their industries, through a combination of events, intelligence products and advisory services. 700 people serve a global customer base from more than 100 countries in the large and growing Marketing and Financial Technology sectors. 

In October 2023, Ascential entered into an agreement to sell both its digital commerce and product design business for a combined enterprise value of £1.4bn and cash proceeds of £1.2bn. Following completion of the transactions, Ascential distributed £850m to shareholders and saw an immediate increase in its share price approaching 30%. In addition, the transaction has enabled the more focused group to outline increased potential for further significant growth.

ESG: In 2023, Ascential measured its complete (scopes 1-3) carbon footprint across its entire events portfolio for the first time, and implemented a new carbon measurement tool and methodology for Ascential carbon emissions. 

Ascential has an ESG combined score* of C+ 

Harbour Energy plc

Harbour Energy is the largest London-listed independent oil and gas company with a leading position in the UK, as well as interests in Indonesia, Vietnam, Mexico and Norway. The group is headquartered in London and has around 1,800 employees worldwide.

In December 2023, Harbour Energy announced its transformational acquisition of the Wintershall Dea asset portfolio. The transaction will add material gas-weighted portfolios in Norway and Argentina and complementary growth projects in Mexico, and is expected to transform Harbour into one of the world’s largest and most geographically diverse independent oil and gas companies. The group will also benefit from an increased reserve life and improved margins with lower operating costs and greenhouse gas ("GHG") intensity.

ESG: Harbour Energy has an ESG combined score* of C+ 

Hollywood Bowl Group plc

Based in Hemel Hempstead, Hollywood Bowl Group is a leading international operator of ten-pin bowling and mini-golf centres. The group is the UK’s market leader with 71 centres across the UK and 11 centres in Canada.

Hollywood Bowl made its first acquisition in the Canadian market in 2022 with the purchase of the Splitsville brand. Since then, the group has identified a pipeline of acquisitions as well as new site opportunities in the Canadian market and has acquired three bowling centres in Calgary, a strategically important location between its current centres in British Columbia and Ontario. The transactions have delivered significant growth for Hollywood Bowl in addition to providing opportunity for further expansion.

ESG: Hollywood Bowl has again been recognised as one of the UK’s Top 25 Big Companies to Work For (rank number 12), which is testament to the work implemented in the areas of training and development, team wellbeing, and D&I.

Hollywood Bowl has an ESG combined score* of C 

HSBC Holdings plc

Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. The group’s global businesses serve around 39 million customers worldwide through a network that covers 62 countries and territories.

In March last year, HSBC UK Bank, the British-based ring-fenced subsidiary of HSBC, purchased SVB UK for £1. HSBC acted quickly to secure the transaction after US regulators shut down Silicon Valley Bank, with the creation of HSBC Innovation Banking, which has continued to operate independently, with the vast majority of former SVB UK staff remaining within the business. The transaction strengthened HSBC’s commercial banking franchise and provided the opportunity to serve innovative and fast-growing firms in the dynamic technology and life science sectors, generating significant goodwill from the tech and VC community.

ESG: HSBC launched a Sustainable Finance Ambassadors Influencers network to further deepen its employees’ understanding of the opportunities and risks faced by clients and to play a key role in driving greater adoption of Sustainable Finance.

HSBC has an ESG combined score* of C+ 

Melrose Industries plc

Birmingham-based Melrose is a world class, industry-leading global Aerospace business. The group is focused on acquiring manufacturing businesses operating in a number of different geographical regions and sectors. It operates through two divisions: Engines and Structures.

In April this year, Melrose completed the demerger of the GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen businesses to form Dowlais Group. The resulting spin out company created a standalone leading UK engineering business that entered immediately into the FTSE 250. The innovative transaction paved way for a further capital return of £500m to Melrose shareholders via buyback.

ESG: Melrose has an ESG combined score* of B 

Zegona Communications plc

London-based Zegona was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance. The group is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.

In October 2023, Zegona Communications announced it was entering into an agreement to acquire Vodaphone’s Spanish telecom assets in a deal with an enterprise value of €5bn. The group is funding the acquisition through a combination of new debt, Vodafone Financing and a new equity raise, and although the transaction is not yet proven, it has been hailed as an ambitious and interesting deal that will create significant value for shareholders.

ESG: combined score N/A

*All ESG combined scores are based on data supplied by Refinitiv

growth business of the year award

sponsored by Squire Patton Boggs

The 2023 shortlist: 

3i Group plc

London-based 3i Group is a UK investment company with two core businesses - Private Equity, focused on key sectors in Europe and North America, and Infrastructure, investing across economic infrastructure assets and projects in those regions.

The net asset value of the 3I Group portfolio has grown considerably over the past few years, largely driven by the strong performance of Action, one of its portfolio companies, in addition to solid organic growth coming from a number of portfolio companies operating in the valuefor-money, private label and healthcare sectors. In October 2023, Action successfully completed its debut US dollar term loan issuance in the US leveraged loan market, raising $1.5bn and completed a capital restructuring with a pro-rata redemption of shares. 

ESG: 3i Group recruits and develops a diverse pool of talent and has an open and non-hierarchical culture, providing an inclusive and supportive working environment for employees. 

3i has an ESG combined score* of B+ 

4imprint Group plc

London-based 4imprint Group is a UK direct marketer of promotional products operating in North America, the UK, and Ireland. The group uses data-driven marketing techniques to capture market share in promotional product markets under its own brands like Crossland, reFresh, and TaskRight.

4imprint has been described as the “very definition of a growth company”. The group has been successful in delivering significant organic revenue growth by increasing market share in large, fragmented markets. Last year the group reported customer demand was at record levels and net operating profit margin had increased to 10.0% (2022: 8.5%), driven principally by improvement in gross profit percentage and favourable returns on marketing spend.

ESG: The group’s ‘better choices’ programme addresses demand for products with verified sustainability credentials, resulting in an expansion of the range of products offered.

4imprint has an ESG combined score* of B- 

Cranswick plc

Yorkshire-based Cranswick is a food manufacturer and supplier of fresh pork, chicken, sausage, bacon, pastries, cooked meats, charcuterie, Mediterranean products, dips, and pet food to UK grocery retailers, food service, and food producers. The group’s brands include Bodega, Cypressa, and Ramona.

Cranswick has a strong track record of organic growth, combined with targeted acquisitions, which has established the group as an innovative British supplier of premium, fresh and value-added food products. Cranswick has delivered reliable growth through its sound strategy and execution, combined with sustainability leadership in a tough industry.

ESG: As part of its Second Nature journey, Cranswick worked closely with FareShare, the UK’s largest food redistribution charity. Over 3m servings of meat have been donated so far in this financial year, supporting FareShare as well as the group’s own staff sales and other local charities.

Cranswick has an ESG combined score* of B+ 

Diploma plc

London-based Diploma is a supplier of specialised products and services across three segments: Life Sciences, Seals and Controls. The group’s key offerings include medical devices, seals for machinery, and wiring and connectors for technical applications.

Diploma has solidified its reputation as a high-quality and rapidly growing company. The group drives revenue diversification in three areas: end markets, geographic penetration and product extension to enable organic growth, scale and resilience. Its organic growth strategy is complemented by bolt-on acquisitions to further accelerate the group’s growth. 

ESG: Diploma has an ESG combined score* of C 

London Stock Exchange Group plc

London Stock Exchange Group is one of the world’s leading providers of financial markets infrastructure, delivering financial data, analytics, news and index products to more than 40,000 customers in 190 countries.

LSEG has a compelling growth story, with growth rates of its Refinitiv Data & Analytics businesses tripling in under three years. In December 2022, LSEG and Microsoft launched a 10-year strategic partnership for next-generation data and analytics and cloud infrastructure solutions, enabling LSEG to provide customers with new AI-driven insights, based on trusted and validated data, combined with straight-through execution and risk management. The group’s Capital Markets revenues accelerated in the third quarter of 2023 and its Post Trade businesses also enjoyed significant growth.

ESG: LSEG is uniquely positioned to be a strategic enabler of sustainable growth, accelerating the transition to net zero, growing the green economy, and creating inclusive economic opportunity. 

LSEG has an ESG combined score* of B- 

XPS Pensions Group plc

Based in Reading, XPS Pensions is a leading independent pensions consulting and administration business fully focused on UK pension schemes. The group provides a wide range of advisory services to trustees and sponsors of pension schemes.

Last year was an exceptional year for XPS Pensions, with the group delivering strong growth ahead of expectations and recording the highest operating result since its listing in 2017. 2023 was XPS Pensions sixth consecutive year of growth, in addition to the group achieving record dividends, a strategic bolt-on acquisition and multiple award wins. 

ESG: In June 2023, XPS became signatory to the Women in Finance Charter, setting a target of 37% of females in senior management by 2028. The group was named as one of the Best Places to Work 2023 by The Sunday Times and gained Menopause Friendly Accreditation.

XPS Pensions has an ESG combined score* of C 

_{*All ESG combined scores are based on data supplied by Refinitiv}

tech business of the year award

sponsored by Beyond Governance 

 
The 2023 shortlist:

Bytes Technology Group plc

Surrey-based Bytes is one of the UK’s leading providers of software, security and cloud services. The group enables effective and cost-efficient technology sourcing, adoption and management across software, security, hardware and cloud services.

Bytes delivered an excellent operational performance in 2023, despite ongoing macro challenges. The group attributes its success to the continued strong demand from its corporate and public sector customers for security, cloud adoption, digital transformation, hybrid datacentres and remote working solutions, allowing Bytes to invest in the business. The group is well placed to capitalise on AI products, which are one of the defining trends in the IT services sectors. 

ESG: Bytes encourages openness about mental health and offers help for those in need. The value of its 24/7 employee assistance programme (EAP) became clear during the pandemic.

Bytes has an ESG combined score* of C-

Chemring Group plc

Hampshire-based Chemring has been supplying the world’s most demanding customers – in aerospace, defence and security – with innovative solutions for over 100 years. Following the incorporation of Roke, the group provides technology, engineering and advisory services to Government and high-value engineering companies.

Last year was another year of strong performance for Chemring as demand grew for its mission-critical products and services. This was achieved through continued investment at every stage of the value chain, from R&D through to design, manufacture and in-service support for its sensors and detection systems, countermeasures, precision engineering and products. Chemring reported a record order intake in 2023 and enjoyed its highest order book in over a decade, making it well placed for future growth. 

ESG: Chemring has an ESG combined score* of B-

Computacenter plc

Hatfield-based Computacenter is a leading independent technology and services provider. The groups help its customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business.

Computacenter has an integrated offering, providing three complementary entry points for its customers, which have helped the group achieved its long-term growth. The increasing pace of technological change and the diversity of the technology landscape has made Computacenter’s technology vendor independence even more critical to its customer.  Last year was the group’s eighteenth consecutive year of adjusted EPS growth.

ESG: Computacenter achieved carbon neutral status for Scope 1 and 2 emissions in 2022, making it one of the first companies in its industry to reach this milestone.

Computacenter has an ESG combined score* of B

Darktrace plc

Cambridge-based Darktrace is a global leader in cyber security AI and its core mission is to free the world of cyber disruption. The group’s technology continuously learns and updates its knowledge of business data and applies that understanding to optimise the state of optimal cyber security. 

Darktrace's cyber AI technology provides a full lifecycle approach to cyber resilience across the entire organisation that can autonomously spot and respond to novel in-progress threats within seconds. The group continues to innovate its products, recently launching a New Darktrace/Cloud™ solution that provides a real-time, architecture-based view of cloud environments so businesses can easily and quickly act against evolving threats and misconfigurations, and strengthen compliance. The group reported a solid start to the new trading year amid an uplift in new business activity.

ESG: Darktrace has partnered with Loughborough University to fund 5 AI Research PhD students over the next five years. Darktrace has also joined forces with ‘Year Up’ in the United States and ‘Code First Girls’ in the UK to close the opportunity gap in the industry and diversify its talent pipeline.

Darktrace has a combined ESG score* of C-

Moneysupermarket.com Group plc

Chester-based Moneysupermarket.com operates a tech-led savings platform and leading UK brands including price comparison sites, cashback and a consumer finance content-led brand. The group covers a broad range of verticals including Insurance, Money, Home Services and Travel, amongst others. 

In 2022, Moneysupermarket.com helped its users to save an estimated £1.8bn on their household bills. The group is made up of several brands including MoneySavingExpert, Quidco, TravelSupermarket and Decision Tech and it is these strong brands that have helped the group capitalise on its performance. Interim results report a good trading performance and market share gains, in addition to signficant revenue growth in its Insurance and Travel markets.

ESG: In tandem with its commitment to the UN Global Compact, Moneysupermarket.com has achieved the significant milestone of obtaining Science-Based Targets accredited by the Science-Based Targets initiative (SBTi). 

Moneysupermarket.com has a combined ESG score* of B-

Sage Group plc

Based in Newcastle, Sage is the market leader for integrated accounting, payroll, and payment systems. The group helps drive today’s business builders with a new generation of solutions to manage everything from money to people. 

Sage’s social and mobile technology provides live information so its clients make fast, informed decisions anytime, anywhere in the world. The group has recently reinvigorated its business by selling non-core assets, reinvesting in products, strengthening accountant relationships, and shifting to the cloud. The group’s products are gaining traction, with 10% organic revenue growth this year and in particular, the Sage Intacct cloud product is seeing significant growth, which validates the quality of its technology. Through R&D investment, Sage is expanding its platform approach and introducing AI tools.

ESG: Sage published a new suite of corporate sustainability reports in early December 2023, including its third Sustainability and Society Report, its UK Gender and Ethnicity Pay Gap Reports, its first Climate Report and its first ESG Databook.

Sage has a combined ESG score* of B-

Trainline plc

London-based Trainline operates an independent global rail and coach travel platform, enabling trip planning, booking, and management through its website, app, and B2B partners. The group runs UK and international consumer sites, along with technology solutions for travel companies and train operators.

Trainline is now Europe’s #1 most downloaded rail travel app. The group is driving this shift to e-tickets, with industry penetration in UK increasing to 46%, due to its relentless focus on continually innovating and improving the customer experience of purchasing digital rail tickets. Trainline’s interim results reported significant market share in key European countries including Italy and Spain, in addition to a 23% year on year increase in group net ticket sales.

ESG: Trainline has a combined ESG score* of C

Trustpilot Group plc

Trustpilot is headquartered in Copenhagen. The group brings businesses and consumers together, to foster trust and inspire collaboration. Trustpilot has disrupted the service review industry by empowering customers to honestly rate companies.

Over 213m consumer reviews of businesses and products have been posted on Trustpilot and these numbers are growing by more than one review per second. In addition to its free service, Trustpilot provides paid software modules for businesses, providing increasing levels of functionality and offered on a SaaS basis. The group has a proven track record of delivering growth over many years, demonstrated by its compound annual growth of 40% in total cumulative reviews.

ESG: Trustpilot has an ESG combined score* of B

_{*All ESG combined scores are based on data supplied by Refinitiv}

transformation of the year award

sponsored by Odyssean Capital

The 2023 shortlist: 

Babcock International Group plc

London-based Babcock plays a critical role in international defence, from submarines beneath the waves, to secure communications in space. The group provides through-life technical and engineering support for its customers’ assets, delivering improvements in performance, availability and programme cost. 

Last year was Babcock’s second full year of turnaround, which was implemented in order to address the group’s historic underperformance. Following completion of Babcock’s portfolio alignment programme, this transformation is now delivering results, with over two-thirds of the group’s revenue now concentrated on defence. As a result, Babcock delivered double-digit organic growth, in addition to a strong cash performance during the period, enabling the group to focus on further significant growth in its core markets.

ESG: Babcock has a combined ESG score* of B-

FirstGroup plc

FirstGroup is a leading private sector provider of public transport. The group’s First Bus division is the second largest regional bus operator in the UK with a fleet of c.5,000 buses and its First Rail division is the UK’s largest rail operator.

First Group has undergone a complete transformation of the business in recent years, starting with the sale of its North American assets during 2021-2022. This disposal facilitated increased investment in its UK bus and rail divisions, resulting in First Group’s highest level of group operating profits in a decade. The revised positioning has allowed FirstGroup to play a leading part in the electrification of the UK Bus division and, more recently, in its strategic partnership with Hitachi, in addition to generating £190m of shareholder returns.

ESG: FirstGroup received the Green Economy Mark on the London Stock Exchange in recognition of its contribution to the global green economy earlier this year. In the second half of its financial year, the group was ranked as the top performing bus and rail operator in the FTSE4Good Index.

FirstGroup has an ESG combined score* of C+

Foxtons Group plc

Foxtons is London’s leading estate agency and largest lettings agency brand, with a portfolio of over 28,000 tenancies. The group operates from a network of over 60 interconnected branches, offering a range of residential property services across three business segments: Lettings, Sales and Financial Services.

Last year was transformational for Foxtons, following an operational turnaround plan and refreshed strategy. The group strategically prioritized non-cyclical revenue growth, in addition to investing heavily in workforce training, data architecture overhaul and operational upgrades, resulting in a significant increase in revenue and profits. Foxtons ended 2023 as the UK’s fastest growing large lettings and sales agency brand, delivering a 66% share price increase.

ESG: In January 2024, Foxtons began a new partnership with the Single Homeless Project (SHP), a London-based charity dedicated to combatting homelessness by providing support and accommodation, promoting wellbeing, enhancing opportunity, and being a voice for change.

Foxtons has a combined ESG score* of C+

Kier Group plc

Salford-based Kier Group is a leading infrastructure services and construction company. The group is a strategic supplier to the UK Government with key strengths in education, healthcare, custodial, transport and defence. 

Over the past two years, Kier has achieved considerable operational and financial progress. After facing an uncertain future, Kier developed and implemented a strategic review under new management to re-establish itself as a leading UK contractor. By focusing on operational delivery and supply chain strategies, the group executed a remarkable turnaround, which also enabled the completion of some strategic acquisitions. As a result of Kier’s successful transformation, its share price has doubled, leaving the group well-positioned for further sustainable growth.

ESG: Kier Group’s net-zero targets have been validated by the SBTi, demonstrating the group’s clear commitment to achieving net-zero carbon across operations by 2045 and its clear pathway to achieving that.

Kier Group has a combined ESG score* of B

Marks & Spencer Group plc

Headquartered in London, Marks and Spencer Group needs little introduction as a retailer focused on own label businesses, including food, clothing, and home, in addition to bank services in the UK and internationally.

Marks and Spencer has been undergoing a transformation for a number of years, however within the last year, the group’s strategy to reshape the business for growth has had significant impact. With a new leadership team in place, M&S made substantial investments in a refreshed positioning, instore improvements and increased marketing efforts, all of which resulted in the shares returning to the FTSE 100. The group’s new strategy has led to a strong share price performance, consistent like for-like sales growth, and several forecast upgrades.

ESG: In August, M&S launched ‘Say Pants to the Tax’, its first ever customer-facing public affairs led campaign to make period pants VAT free. The group secured over 970 pieces of media coverage and in the 2023 Autumn statement, it was announced that period underwear would be zero-rated for VAT from 1 Jan 2024.

Marks and Spencer have a combined ESG rating* of B

Rolls-Royce Holdings plc

Rolls-Royce develops and delivers complex power and propulsion solutions for safety-critical applications in the air, at sea and on land. The groups products and service packages meet the growing need for power generation across multiple industries while also enabling governments to equip their armed forces with the power required to protect their citizens.

Rolls-Royce has embarked on a multi year transformation, the results of which are evident this year, however the group is committed to further transforming into a high performing, competitive and growing business. Rolls-Royce has benefitted from key contract wins this year which will generate future value and profitable growth, and it has invested in its strong portfolio of products and technologies. As a result, Rolls-Royce has maintained its global leadership to emerge as a top FTSE 100 performer with a remarkable 220% return in calendar 2023.

ESG: In 2020 Rolls-Royce committed to have proven, through testing, that all its in-production commercial aero engines are compatible with sustainable aviation fuels at 100% concentration (not a blend with jet fuel) by 2023.

Rolls-Royce has a combined ESG score* of B-

_{*All ESG combined scores are based on data supplied by Refinitiv}

fund manager award

sponsored by Investec

 
The 2023 shortlist:

Alessandro Dicorrado and Steve Woolley/
Ninety One Asset Management

Ninety One Asset Management is reportedly one of the best performing UK funds of last year, with a return of 19%.

Alessandro is a portfolio manager within the Value team at Ninety One. He co-manages the UK Value Equity and Global Value Equity strategies. Alessandro initially joined the firm as an analyst in the Value team, having previously  worked at J.P. Morgan Chase & Co as a fixed income derivatives salesperson in London. 

Steve is a portfolio manager within the Value team at Ninety One. He co-manages the UK Value Equity and Global Value Equity strategies. Previously, Steve was an analyst in the Value team, having joined the firm in 2008 from the Financial Services Authority where he supervised asset managers and financial advisors. 

Mark Niznik and William Tamworth/
Artemis Investment Management 

Artemis was nominated this year for the fund’s strong performance over the longer term. 

Mark has managed Artemis‘ UK smaller companies strategy since joining the firm in 2007. His investment career began in 1985 with Legal & General, which was followed by a stint as a private client fund manager at Greig Middleton & Co. In 1992, he joined Perpetual covering the UK part of its Global Smaller Companies Fund; the UK Smaller Companies Core Fund and the Invesco Perpetual UK Smaller Companies Investment Trust. Mark then moved to Standard Life Investments as a small/mid-cap fund manager, running its UK Opportunity Fund from launch in November 2002 and its in-house small-cap pension funds. 

William works with Mark managing Artemis’ UK smaller companies strategy. He graduated from Oxford in 2006 with a degree in economics and management and joined Citigroup as an equity research analyst in the UK small and mid-cap team. William moved to Liberum in 2009, where he continued to work in small and mid-cap equity research, specialising in support services. A CFA charterholder, William joined Artemis in 2015.

Jean Roche/Schroders

Jean is a consistent champion performer that is well known and well respected in the industry. More recently Jean has been using social media to educate the wider investor community and engage with companies on a more informal basis, which the Voting Panel observed to be a “superb illustration of the 'democraticisation' of capital markets”.

Jean joined Schroders in 2016 and became Fund Manager of Schroder UK Mid Cap Fund plc in February 2021, having been Co-Fund Manager since September 2016. Jean’s investment career started in 1999 after graduating with a BA in Mathematics and French and an MSc in Financial and Industrial Mathematics. Previously, she worked at Morgan Stanley and Panmure Gordon, before moving to Hargreave Hale in 2013 as a fund manager. Jean is a CFA Charterholder.

Eustace Santa Barbara/Marlborough 

Eustace has maintained a positive attitude in UK equities, throughout the ongoing economic challenges. He played an important part in the recovery plays of key stocks, including Deliveroo.

Eustace is a graduate of Harvard University and joined the investment team from Close Brothers in 2013. He has worked as both an analyst and fund manager and has 16 years’ experience on the buy-side. Eustace is the Co-Manager of the Marlborough Special Situations Fund, Marlborough Nano-Cap Growth Fund and the Marlborough UK Micro-Cap Growth Fund.

Alex Savvides/J O Hambro Capital Management

Alex delivered a strong performance in 2023. His strategy is to seek investments with a more positive view of medium to long-term future revenues and cash flows than the prevailing market opinion. 

Alex is Senior Fund Manager of the JOHCM UK Dynamic Fund. He joined J O Hambro Capital Management (JOHCM) in March 2003 as Assistant Fund Manager of the JOHCM UK Growth Fund, working in partnership with lead Fund Manager, Mark Costar. Alex developed and launched UK Dynamic in June 2008, and in doing so becoming the first internally developed Fund Manager to launch a new and 'home grown' investment process at JOHCM, as well as the first to be backed by seed capital solely from JOHCM's own balance sheet. 

Prior to joining JOHCM, Alex spent his early investment career at three independent UK stockbroking firms.

Jonathan Winton/Fidelity International 

Jonathan joined Fidelity as an analyst in 2005, and has covered pan European Support Services, Small Cap Technology and Beverages & Tobacco stocks. He was promoted to manage the FIF UK Smaller Companies fund in February 2013. He was appointed co-portfolio manager of the FIF Special Situations/Fidelity Special Values PLC portfolios, managed by Alexander Wright, in February 2020.

The Team/Liontrust Asset Management

The award-winning Economic Advantage team have an average industry experience of 21 years. Anthony Cross joined Liontrust from Schroders in 1997 and was joined by Julian Fosh in 2008. Julian had previously managed funds at Scottish Amicable Investment Managers, Britannic Investment Managers, Scottish Friendly Assurance Society and Saracen Fund Managers. 

In 2015, Victoria Stevens and Matt Tonge joined the team. Victoria was previously Deputy Head of Corporate Broking at FinnCap, while Matt had spent nine years on the Liontrust dealing desk, latterly winning an industry award for his work in mid and small cap stocks. 

Alex Wedge joined the team in March 2020 from N+1 Singer, where he had spent over seven years, latterly as a senior member of the equity sales team. Natalie Bell joined the team in August 2022, having previously been a member of the Liontrust Responsible Capitalism team where she led engagement with investee companies.

breakthrough of the year award

sponsored by RBC Capital Markets

 
The 2023 shortlist:

Capital Limited

London-based Capital Limited provides full-service mining, drilling, maintenance and geochemical analysis solutions to customers within the minerals industry. The group’s services extend across the mining value chain, from initial exploration drilling to load and haul, providing a fully integrated mining services solution.

Last year, Capital achieved a number of milestones to help secure the group’s future growth plans. Capital took a further strategic step into North America, with the award of its comprehensive drilling and laboratory services contracts with Nevada Gold Mines (USA), adding to its existing and growing operations in Canada with MSALABS. This breakthrough in operations was complemented with the group securing its second material mining contract at Ivindo, Gabon, which diversifies Capital’s revenue stream through an expanded service offering.

ESG: combined score N/A

Hilton Food Group plc

Hilton Foods is a leading specialist international food packing business based in Cambridgeshire. The group manufactures high quality multi-protein products utilising industry leading technology in its highly automated facilities, including advanced robotics. 

Hilton Foods’ breakthrough came in September last year with the announcement of a long-term supply agreement with Walmart Canada. As part of the deal, Hilton will open a new manufacturing facility in Eastern Canada, which will provide robotised store order picking into Walmart’s distribution centres, in addition to supplying Walmart with a broad range of proteins. The agreement is significant because it further extends Hilton’s global footprint and is the group’s first manufacturing facility in North America. 

ESG: This year Hilton will be publishing its first stand-alone sustainability report. The group’s continued ambition and commitment to improve the efficiency of its state-of-the-art facilities is a key area of focus within this plan.

Hilton Foods has an ESG combined score* of C+

Ondo InsurTech plc

London-based Ondo is the first InsurTech to IPO in the UK. The group has proven it’s possible to use advanced technologies, such as LeakBot, to protect properties and actually prevent bad things from happening in the first place, giving homeowners peace of mind in a much more sustainable way than the traditional risk transfer model of insurance.

During the period, Ondo took notable steps to enter the US market, which holds considerable growth potential for the group. In June 2023, Ondo announced that premium US insurer, Mutual of Enumclaw, had signed a contract to distribute its LeakBot system to homeowner insurance customers in Washington State. This was shortly followed by a transformative contract signed in November with Nationwide. As a Top 10 US homeowner insurer and Fortune 100 company, the Nationwide contract is a breakthrough opportunity for Ondo in the US.  

ESG: combined score N/A

Rolls-Royce Holdings plc

Rolls-Royce is a British multinational aerospace and defence company. The group develops and delivers complex power and propulsion solutions for safety-critical applications in the air, at sea and on land. 

Over the past few years, Rolls-Royce has embarked on a journey to become a high performing, competitive and growing brand. The group has heavily invested in its strong portfolio of products and technologies, such as its green mini nuclear power reactors and its new Trent XWD aero engines. The Trent XWB is the world's most efficient large aero engine in service, thanks to its game changing efficiency, coupled with industry leading versatility and reliability. Rolls-Royce’s product investments and transformation strategy have enabled the group to emerge as a top FTSE 100 performer in calendar 2023.

ESG: All the group’s major engine platforms have now been released to run on sustainable fuels such as hydrotreated vegetable oil. Rolls-Royce is also developing methanol-based engines for the marine market and hydrogen-based engines.

Rolls-Royce has an ESG combined score* of B-

Smiths News plc

Swindon-based Smiths News is the UK’s leading newspaper and magazine wholesaler. Working on behalf of all major national and regional publishers, the group distributes a huge range of print media to 24,000 customers – from large general retailers to smaller independent newsagent.

Smiths News returned good results during the period, exceeding market expectations, while making progress against key financial and strategic targets, despite the ongoing economic challenges. One of the group’s key strategic milestones was securing a critical mass of its publisher contracts through to 2029, facilitating the long-term planning of investment, and allowing Smiths News to pursue appropriately sized new ventures to add value to the business. In February last year, the group launched ‘Smiths News Recycle’, which is designed to help retailers manage soft plastics and bulky cardboard left over from stock deliveries and trips to the cash-and-carry.

ESG: Smith News has an ESG combined score* of C+

Vistry Group plc

Kent-based Vistry Group is the UK’s leading provider of affordable mixed tenure homes. The group delivers thousands of homes every year for the affordable and open market places and has an unmatched portfolio of brands including Linden Homes, Bovis Homes and Countryside Homes.

In November last year, Vistry completed one of the most significant new-build residential transactions seen in recent years with a landmark partnership agreement with PRS provider, Leaf Living, and affordable housing provider, Sage Homes, for almost 3,000 new homes. The unique scale of this £819m agreement is a milestone moment in Vistry’s strategic shift to a Partnerships-focused model, which was announced in September, and completed at the end of year. The breakthrough transaction reinforces Vistry’s position as the UK’s leading developer of affordable and mixed tenure homes.

ESG: Vistry submitted updated science-based targets for approval, including a corporate net zero target of 2040 and has linked the scope 1 and 2 targets to its sustainability-linked loan. The development of Vistry’s carbon action plan is linked to Group’s manager and executive bonus.

Vistry Group has an ESG combined score* of B

_{*All ESG combined scores are based on data supplied by Refinitiv}

CEO of the year award

sponsored by Citi Commercial Bank

 
The 2023 shortlist:

Luke Ellis/Man Group plc

Luke joined Man Group in 2010 and became the group CEO in 2016. Luke announced his retirement in May last year and officially stepped down from the role in September.  Prior to this, Luke was Head and CIO of Man Group’s Multi-Manager Business. He was Managing Director of FRM and ran the business from 1998 to 2008. Before joining FRM, Luke was a Managing Director at JPMorgan and Global Head of Equity Derivatives and Equity Proprietary Trading.

During his tenure, Luke was responsible for managing Man Group’s four investment units, Man AHL, Man GLG, Man Numeric and Man FRM. Luke has been described as a “visionary leader”, who worked closely with his leadership team to drive Man Group’s phenomenal growth. Luke played a significant role in developing the inspiring culture evident within the group, whilst maintaining a relentless focus on shareholder value. Luke’s excellent succession planning make him a worthy candidate for this award. 

ESG: Man Group has an ESG combined score* of B+

Alan Giddins/Hill & Smith plc

Alan joined Hill & Smith as Executive Chair in 2017. He transitioned from Chair to Exec CEO whilst the group was searching for a permanent CEO. Prior to Hill & Smith, Alan was a Managing Partner and Global Head of Private Equity at 3i Group plc and before this he spent 13 years in investment banking advising a broad range of quoted companies. Alan is Chair of Watkin Jones plc and a Non-executive Director of Big Society Capital, a leading social impact-led investor.

Since Alan's appointment as Executive Chair, he has helped the group deliver record profits. This has been achieved through successfully executing an organic growth strategy, whilst making significant progress on portfolio management, including a major disposal and a series of high quality acquisitions. Alan’s proactive leadership has resulted in notable share price returns.

ESG: Hill & Smith has an ESG combined score* of C+

Bill Hocking/Galliford Try Holdings plc

Bill was appointed to Galliford Try’s Board as CEO in 2020, following the sale of the group’s housing businesses. Prior to that, Bill was CEO of Construction & Investments from 2016, having joined Galliford Try as Managing Director of Construction in September 2015. He joined the group from Skanska UK plc, where he held the position of Executive Vice President, having joined that company in 1990. 

Bill has a strong commitment to leading a values-driven, people-orientated, progressive business.  During his tenure, he has demonstrated a strong and successful leadership of Galliford Try, placing particular emphasis on the needs of customers, employees, investors and communities. Bill has implemented a shaping strategy for the business and built a strong senior management team with a clear vision for the company, which has resulted in a strong balance sheet and an excellent order book.

ESG: Galliford Try has an ESG combined score* of B

David Lockwood/Babcock International Group plc

David was appointed CEO of Babcock in 2020. Prior to this role, David was CEO of Cobham plc and prior to that, he was CEO of Laird PLC. His career includes senior management roles at BT Global Services, BAE Systems and Thales Corporation. David received an OBE for services to industry in Scotland in 2011.

During his relatively short time as CEO of Babcock, David has executed a remarkable turnaround of the business. Having inherited a distressed business, David immediately put Babcock on the path to recovery through a strategic restructuring and the implantation of collaborative partnerships, in addition to selling non-core assets and re-building client trust. With the group’s second full year of turnaround now complete, Babcock has been able to deliver double-digit organic growth in addition to a strong cash performance.

ESG: Babcock has an ESG combined score* of B-

Stuart Machin/Marks & Spencer Group plc

Stuart took over as CEO of Marks and Spencer in 2022, having joined M&S as Food Managing Director in 2018. Prior to this Stuart was joint COO, in addition to being a director of Ocado Retail Limited. Prior to M&S, Stuart held senior operations and commercial roles across the UK and internationally, starting his career in Sainsbury’s and British Home stores, Tesco and then Asda. 

Stuart has been credited with the hugely successful turnaround of M&S, thanks to the strategies he put in place to kick start the group’s recovery.  Stuart has steered the group through a period of transformation, resulting in increased customer numbers and market share in both Food, Clothing & Home. This has been executed alongside store rotation and cost reduction programmes. Under Stuart’s guidance, M&S returned to the FTSE 100 in September last year and reinstated dividends for the first time in four years.

ESG: M&S has an ESG combined score* of B

Mike Norris/Computacenter plc

Mike joined Computacenter in 1984 as a salesman in the City office. Following appointments in senior roles, he became CEO in December 1994, with responsibility for all day-to-day activities and reporting channels across Computacenter.  Mike was awarded an Honorary Doctorate of Science from the University of Hertfordshire in 2010.

Mike claims the title of the longest serving CEO on the FTSE 250. He also holds the enviable record of delivering 19 years of unbroken EPS growth for Computacenter. This was achieved thanks to pivoting Computacenter’s strategy to dramatically grow its Services business, resulting in a steady growth in EPS since 2005. Mike has continued to relentlessly drive the business forward by expanding into adjacencies both geographically and functionally, which have established Computacenter as the largest services business of any value-added reseller, as well as the largest value-added reseller capability of any services business worldwide.

ESG: Computacenter has an ESG combined score* of B

_{*All ESG combined scores are based on data supplied by Refinitiv}

company of the year award

sponsored by Berenberg

 
The 2023 shortlist:

Computacenter plc

Hertfordshire-based Computacenter is a leading independent technology and services provider. The group helps its customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business.

Computacenter is one of the tech sectors most consistent out-performers in terms of total share return. During the period the group grew significantly faster than the market, in addition to its major competitors, transforming Computacenter from a local to global champion. The group has refused to let challenging market conditions affect its investment plan, with spend on strategic corporate initiatives increasing by more than double to £11.9m in the first half of 2023 alone. Computacenter’s consistently strong trading performance was assisted by its strategic BITS acquisition, which, combined with the group’s expanded global reach, has resulted in twenty years of unbroken EPS growth for the group. 

ESG: Computacenter is stated by Glassdoor as one of the 50 best companies to work for in the UK. The group has a special recognition award for wellbeing Inspiring Workplaces EMEA 2022.

Computacenter has an ESG combined score* of B

Galliford Try Holdings plc

Headquartered in Uxbridge, Galliford Try is a major construction group, operating in England, Wales and Scotland. The group operates predominantly across the education, health, defence, custodial and commercial sectors.

Last year was another year of growth for Galliford Try, with progression in both revenues and margins under the steady tenure of the management team. The group made significant headway within its core markets, with ongoing project wins underpinning a very strong forward order book. Galliford Try executed a number of strategic bolt-on acquisitions, which propelled the business into complementary markets and helped the group achieve a substantial increase in revenue and profit across all its operations.

ESG: Galliford Try launched a ‘One in a Million challenge’, tasking teams to play their part in meeting its carbon reduction targets. The challenge was for every part of the business to seek opportunities to save a minimum of one tonne of carbon (tCO2e) per £1m spent in 2024.

Galliford Try has an ESG combined score* of B

Marks & Spencer Group plc

Headquartered in London, Marks and Spencer is a renowned retailer that needs little introduction. The group has been nominated for three awards at this year’s plc awards.

M&S has been undergoing a transformation for a number of years, however last year, the group’s ‘re-shaping M&S’ strategy had significant impact. The Clothing and Home businesses both out-performed the market and the group’s sales growth was supported by investment in store rotation. M&S put a cost reduction programme in place which delivered over £100m savings and its investment in supply chain modernisation delivered volume growth to improved margin and profitability. As a result of the group’s growth strategy M&S returned to the FTSE 100 in September last year and reinstated dividends for the first time in four years.

ESG: The group’s extensive ‘Say Pants to the Tax’, campaign resulted in an announcement in the 2023 Autumn statement that period underwear would be zero-rated for VAT from 1 Jan 2024.

Marks and Spencer have a combined ESG rating* of B

RELX plc

Lodon-based RELX is a global provider of information-based analytics and decision tools. The group’s products help researchers advance scientific knowledge, doctors and nurses improve the lives of patients and businesses and governments to prevent fraud.

RELX, formerly known as Reed International and Reed Elsevier, reported a very strong trading performance once again, delivering consistent solid growth for its 35th year. RELX has employed AI technologies for well over a decade to develop and deploy its analytics and decision tools, and its long-term growth trajectory continues to be driven by the shift in the business towards these. As a result of group’s strong growth and increased cash flow, RELX was able to increase its interim dividend by 8%.

ESG: RELX held the thirteenth Environmental Challenge in 2023 to provide improved and sustainable access to water and sanitation where it is presently at risk. The first prize winner was Lombrifiltro by CPlantae, a sanitary engineering firm and social enterprise based in Mexico that has developed and commercialized prefabricated vermifilters for onsite wastewater treatment.

RELX has an ESG combined score* of A-

Rolls-Royce Holdings plc

Rolls-Royce develops and delivers complex power and propulsion solutions for safety-critical applications in the air, at sea and on land. The group has been nominated for three awards at this year’s plc awards.

Rolls-Royce has been on a transformative journey over the past few years to emerge in 2023 as a high performing, competitive and growing brand. The group has heavily invested in its strong portfolio of products and technologies to enable game changing efficiency, coupled with industry leading versatility and reliability. Rolls-Royce benefitted from key contract wins this year which will generate future value and profitable growth. The group’s transformation strategy resulted in shares surging over 200%, driving Rolls-Royce's market valuation to £25bn.

ESG: Rolls-Royce is developing methanol-based engines for the marine market and hydrogen-based engines for power generation.

Rolls-Royce has an ESG combined score* of B-

XPS Pensions Group plc

Reading-based XPS Pensions Group specialises in pensions consulting. The company offers services such as Pensions Actuarial, Consulting, Investment, and Administration for optimal retirement outcomes.

Last year was an exceptional year for XPS Pensions, with the group delivering strong growth ahead of expectations and recording the highest operating result since listing in 2017. XPS Pensions was driven by its purpose of delivering better pension outcomes, building enduring client relationships and sustaining a thriving, diverse culture, all of which assisted with the group’s 70% increase in share price. XPS Pensions saw a boost in productivity, thanks to new administration technology and in-house academies, resulting in both cash conversion and balance sheet strength.

ESG: Since March 2023, XPS has strengthened its Sustainability Framework by updating its materiality matrix, reflecting what is important to Stakeholders. The group has strengthened its governance by the appointment of 2 new Non-executive directors.

XPS Pensions has an ESG combined score* of C

_{*All ESG combined scores are based on data supplied by Refinitiv}