SECTION 172 STATEMENT

Updated: 22nd June 2026

Section 172 Statement

Introduction

The group recognizes the importance of effective corporate governance in supporting the long-term success and sustainability of the business. The group is made up of Statutory Directors, responsible for decisions of strategic significance and operational directors who have delegated responsibility for the day to day running of the business.

The board sets the tone for the organization, including culture, values and behaviors that are intended to protect and promote the long-term success of the business.

The statutory directors are aware of their duty under s.172 of the Companies Act 2006 to act in the way which they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its shareholders and other stakeholders. They understand the importance of identifying the impacts of their decisions and, where relevant, the likely consequences of the decisions in the long-term. The operational directors are also fully aware of these requirements.

When making principal decisions, the directors consider (amongst other matters):

the likely consequences of any decision in the long term.
the interests of the group’s employees.
the need to foster the group’s business relationships with suppliers, customers, and others.
the impact of the group’s operations on the community and the environment.
the desirability of the group maintaining a reputation for high standards of business conduct; and
the need to act fairly between members of the group.

Stakeholder Engagement

The directors have identified several key stakeholders and the engagement activities undertaken through the year.

Employees

The group’s employees are fundamental to the success of the business. The directors strive to ensure all employees feel engaged with, and listened to, about what matters to them and understand the role they play in achieving the business strategy. The working environment, health and safety, reward, training, progression, and inclusion are all areas of interest to employees, that are consistently considered and reviewed by the board.

Quarterly work forums take place within the business, between employee representatives and the executive team. The purpose of these meetings is to provide information and consultation on a range of topics including company performance, business updates, recruitment, headcount, policies, health and wellbeing and employee morale.

In addition, the business undertakes Town Hall meetings and executive and board members travel consistently to overseas locations to ensure engagement with global employees.

Customers

Customer satisfaction is a priority focus for the business and is a key tenet of the group’s global brand strength. Over the years, the business has invested in dedicated resource and time in implementing best practice, process and performance measurement to ensure specific customer feedback and issues are dealt with as they arise.

The business monitors customer satisfaction through a number of KPIs, including Net Promoter Score (NPS), CSAT (Customer Satisfaction) monitoring, complaints tracking (logging, time to resolution) and average first response time to all customer contact queries received online.

The group’s approach to customer feedback ensures a continuous loop between customer and all areas of the business, with scrutiny by the directors to ensure continual improvement and adherence to group’s high standards of customer experience.

Suppliers

The group works in partnership with its key suppliers with a commitment to integrity and honesty and conducting business in a socially responsible and sustainable way.

The group’s suppliers form part of an approved audit program supplemented with BSI Supply Chain Services and Solutions support, and compliance with ISO14001, the international standard for environmental management systems. The directors monitor suppliers conduct and can terminate a relationship in the event the supplier falls short of the standards expected.

The business has a dedicated global procurement team who focuses on developing and managing relationships with suppliers. This enables the business to improve product quality, introduce regular account review meetings and generate cost savings across the group.

Local Communities

Contributing to local communities, providing opportunities for local employment, and partnering with local charities is of extreme importance to the group.

The group has signed the Armed Forces Covenant, recognizing the value service personnel, reservists and military families bring to our business. Through this covenant, the group agreed to seek to support veterans providing an employment pathway for service leavers, offer a degree of flexibility in granting leave for service spouses and partners in connection with deployment, support employees who choose to be part of the Reserve forces by accommodating their training and deployment where possible, offer support to local cadet units and actively participate in Armed Forces Day.

The group also partakes in Graduate and modern apprenticeship programs. These schemes effectively allow the business to ‘grow’ its own engineers as there is a marriage between academic learning and doing the work at the same time.

Principal Decisions

The directors consider principal decisions to be those that are strategic, commercially material and impact the group’s stakeholders.

Set out below are the principal decisions made on behalf of the group during the last reporting year:

Approval of dividends

The board approved dividends throughout the year totaling £15.2m.
In reaching its decision to declare the dividends the Board confirmed it considered the impact on the group’s cash position.

Throughout 2025/2026, the board will continue to review and challenge how the group can improve engagement with its employees and stakeholders.