best investor communication award

sponsored by Rothschild & Co.

The 2020 shortlist: 

AJ Bell plc 

Manchester-based AJ Bell is one of the largest online investment platforms in the UK. The group operates at scale in both the advised and the direct-to-consumer segments of the investment platform market, through its flagship platform propositions: AJ Bell Investcentre and AJ Bell Youinvest.

The Voting Panel were impressed by AJ Bell’s overall IR function, which they noted used consistent two-way dialogue, were open to new methods of conversation and were always quick to respond. This excellent company access includes an open and transparent management and Board.

AJ Bell was one of the first  first companies to consult directly with investors and stakeholders as the UK entered the world of COVID , offering support  and advice on how best to communicate in the new world.  

Grainger plc 

Newcastle-based Grainger is the UK’s largest listed residential landlord. The group designs, builds, develops, owns and operates rental homes throughout the UK. Grainger currently has a total of 8,941 homes in its portfolio.

Grainger was another strong performer in the benchmarking exercise, particularly with its Annual Report, which was noted for reader engagement. The Voting Panel commented that Grainger’s Board engagement with all stakeholders is particularly strong and its overall IR function is helpful and accessible. 

Grainger uses its communications tools to successfully demonstrate its commitment to ESG and the group’s business model and leadership roles are clearly and effectively communicated via both the website and the Annual Report. 

Marshalls plc 

West Yorkshire-based Marshalls is the UK's leading hard landscaping manufacturer. The group provides external landscaping, interior design, paving and flooring products, from planning and engineering, to guidance and delivery.

Marshalls is a regular on the Best Investor Communication shortlist, validating the group’s consistently outstanding investor communication. The business has built a reputation for its forward-looking communications both on and offline and for its strong focus on sustainability, which is evident across all channels. 

The voting panel noted Marshalls excellent use of case studies to demonstrate key developments throughout the year and commended the group’s IR team for combining personal contact with informative, consistent messaging. 

UDG Healthcare plc 

Dublin-based UDG Healthcare is a global leader in healthcare advisory, communications, commercial, clinical and packaging services. The group operates in twenty-nine countries across two divisions, Ashfield and Sharp. 

A previous winner of the Best Investor Communication Award, UDG continues to impress. The Voting Panel commented on UDG’s consistently strong communications and noted the strength and resilience that shone through its communication channels during 2020. The group’s ESG issues are well presented in both the Annual Report and on the IR website.

UDG’s IR team are approachable and committed, regularly holding roadshows to maximise the numbers of investors the team can meet.

United Utilities Group plc 

Warrington-based United Utilities Group is responsible for water and wastewater services in the North West of England. The group provides services to around seven million people and businesses in the North West and is focused on delivering the lowest sustainable cost to customers in a responsible manner. 

United Utilities was one of the best performers in the benchmarking exercise. The group’s core purpose is communicated well and is integrated throughout the Annual Report and across all channels. United Utilities provides a clear five-year plan of future objectives, including an executive summary, in addition to providing detail on stakeholder involvement.  

The Voting Panel commented that ESG is central to  United Utilities comms and that the group makes good use of charts, diagrams and visual aids to break down complex information. 

Volution Group plc 

Crawley-based Volution Group is a leading international designer and manufacturer of energy efficient indoor air quality solutions. The group’s key purpose is to provide healthy indoor air, sustainably.

Volution Group’s IR output is very strong, with many areas demonstrating examples of best practice. In 2020 the group completely refocused its investor engagement strategy, ensuring its purpose was clearly communicated to investors, in addition to upgrading its ESG content, which received very positive feedback.

The Voting Panel commented that Volution’s communications are supported by a wide range of case studies. The group’s sustainability strategy was commended for being clearly presented and well-integrated into the wider business. 

innovation in technology award

sponsored by Zeus Capital

 
The 2020 shortlist:

AstraZeneca plc 

AstraZeneca is an Anglo-Swedish drug giant headquartered in Cambridge. The group is focused on accelerating the delivery of life-changing medicines that create enduring value for patients and society.

AstraZeneca’s response to the COVID-19 pandemic was led by science and resulted in its landmark agreement with the University of Oxford to develop, manufacture and supply a vaccine to prevent COVID-19.  The group committed to this at no profit during the pandemic and worked around the clock to seek regulatory approval and then supply billions of vaccine doses around the world as quickly as possible, whilst retaining the highest of quality standards.

AstraZeneca’s response to the pandemic also included the repurposing of its existing compounds and the development of its potential long-acting antibody (LAAB) combination against the virus, AZD7442. As soon as the gene sequence of the SARS-CoV-2 virus was published in January 2020, its teams worked rapidly to screen thousands of antibodies and subsequently identified a combination of two potent neutralising antibodies that is designed to reduce the risk of resistance developed by the virus in just 99 days! This is a process that would usually takes years, making it a remarkable and historical achievement.  

Clipper Logistics plc 

Leeds-based Clipper is focused on the provision of value-added logistics services to the retail sector. The group is a leader in its sector in Europe and has an unrivalled reputation for ensuring its customers deliver on their promises.

Clipper is recognised as a thought leader in its sector due to its ability to identify trends and opportunities ahead of the curve and to develop solutions. The group delivers unique, tailored solutions to some of the UK’s biggest retailers, enabling them to see logistics in a new light. A good example of this is Clipper’s collaboration with Superdry, which saw the creation of a robotic-enabled section of its facility which was specifically dedicated to high productivity racking to manage returns storage and retrieval.

During the pandemic, Clipper has enabled its customers to accelerate their channel shift in the face of COVID-19. Arguably many retailers would have faced even tougher times this year without Clipper's technology. 

CMC Markets plc 

CMC Markets is a leading global provider of online retail financial services, based in London. The group enables its clients to trade a broad range of financial instruments through its Next Generation trading platform.

CMC offers cutting-edge technology across desktop, tablet and mobile apps, offering its clients flexibility in how to access the financial markets. The group invested $100m into its proprietary platform and used advanced client behaviour analytics, customer feedback and new industry trends to determine its platform development pipeline and provide a stronger platform for sustainable growth over the longer term.

CMC has technology at its foundation and over the past year has brought numerous new innovations to both its web and mobile platforms across CFD, spread betting and stockbroking. Whilst many of the group’s competitors faced platform failure issues in volatile markets, CMC maintained 99.95% platform integrity and continues to work on product enhancements and availability.

Kainos Group plc 

Belfast-based Kainos is a leading IT provider across two specialist business areas: Digital Services; and Workday Practice. The Group’s Digital Services include full lifecycle development and support of customised Digital Services for public sector, healthcare and commercial customers. 

Kainos’ transformative solutions encompass a range of services from experience design to artificial intelligence and cloud to deliver truly intelligent solutions that are secure, accessible and cost-effective. As a full-service partner, Kainos is experienced in complex deployment and integrations and is the leader in Workday test automation. The group supplies to government customers and is a trusted partner that is helping drive the government’s digital agenda. 

Kainos’ market-leading (SaaS) platform, Smart, has attracted global brands as customers, including Match Group and Scotts Miracle-Gro. The group now operates from a total of ten international offices to support its growing international client base.

Ocado Group plc 

Hatfield-based Ocado are pioneers of the online grocery market. The group is leading and benefitting from the fast-increasing consumer shift to online shopping due to its technological know-how and unparalleled IP.

Ocado’s growing Solutions business licences OSP, its unique and proprietary end-to-end suite of solutions for online grocery fulfilment, to retail partners around the world. OSP enables these partners to get to a leading position in online grocery in their markets, by providing robotic and software solutions that enable profitable and scalable growth.

Ocado continues to invest in its innovation and is identifying increasing opportunities to leverage its technology in other markets. Last year the group acquired two leading robotics companies, Kindred Systems and Haddington Dynamics to enhance its robotic manipulation capabilities, enabling Ocado to stay on top of technological developments in online grocery.

TBC Bank Group plc 

TBC Bank is the largest bank in Georgia and is an advanced omni channel business with a strong focus on digital channels and superior customer experience. The group has built a reputation for its innovative use of technology to transform the way its customers do business. 

TBC Bank is continuously fine-tuning its advanced digital capabilities and developing ever more innovative solutions for its customers by utilising big data analytics and artificial intelligence. The group recently launched a number of innovations including voice payment in mobile banking, Apple Pay and QR payments.

Another key development TBC launched in Georgia last year was Neobank Space, which offers a completely unique banking experience for digitally savvy customers. It also creates an important knowledge bank that will help TBC introduce Space into other markets and support its international expansion plans.

transformation of the year award

sponsored by Squire Patton Boggs

 
The 2020 shortlist:

Aveva Group plc 

Cambridge-based Aveva is playing a key role in driving the digitalisation of the industrial world. The group’s software enables the design and management of complex industrial assets like power and chemical plants, water treatment facilities and food and beverage factories – deploying IIoT strategies, big data, and AI to digitally transform industries. 

Since Aveva’s strategic merger with the Schneider Electric industrial software business in March 2018, the group has transformed into a unique, best-in-class, highly competitive global technology company. The business is now substantially diversified across four business units, three major geographies, and end-markets including energy, infrastructure and food & beverage. 

The next step in the group’s diversification of the business from its traditional customer base in the oil and gas sector, was the $5bn acquisition of US tech firm, OSIsoft. Agreement for the deal was given in August 2020 and is one of the largest transactions struck by a UK technology company. The deal is due to complete in early 2021. 

Avon Rubber plc 

Wiltshire-based Avon Rubber is an innovative technology group that designs and produces life-critical personal protection systems to maximise the performance and capabilities of its customers. The group is a leader in the global respiratory and ballistic protection markets. 

Avon Rubber made significant steps to reposition the business as a leading provider of personal protection to Military and First Responder markets last year. The divestment of its milk business was an important step in its strategic development, allowing the group to focus on its Avon Protection business and providing funding for future acquisitions.

Following the sale of the non-core milkbusiness, Avon Rubber acquired Team Wendy in November 2020, creating a global leader in the ballistic protection market,  a milestone acquisition for the group which has significantly expanded the group’s portfolio and increased its customer base globally.

Chemring Group plc 

Hampshire-based Chemring is a global business specialising in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets. The group is organised under two strategic product segments: Sensors & Information and Countermeasures & Energetics.

Over the last two years, Chemring has been restructured and repositioned for future growth. A significant proportion of the group’s safety procedures, management teams and corporate governance were strengthened as part of this strategy. In addition, Chemring completed the process of exiting the commoditised energetics market in May 2020 with the sale of Chemring Ordnance Inc., which reduced the group’s exposure to significant operational and reputational risk. 

The repositioning of the business has provided Chemring with a clearly defined strategy, which not only delivers value for shareholders, but also provides the group with market-leading positions in a number of global defence programmes as well as bringing opportunities for future growth in revenue, profit and cash flow.

DWF Group plc 

London-based DWF Group is a leading global provider of integrated legal and business services. The group has three offerings:Legal Advisory; Mindcrest; and Connected Services, which it combines to deliver bespoke solutions for its clients. 

DWF’s mission is to continue to transform the business with technological innovation, outstanding sector specialists and advanced working practices, translating into a new, resilient, business model. Last year saw some changes in management at DWF, including a new Chairman and Group CEO, whose aim was to focus on operational improvement and improve efficiency across the group in addition to providing better connectivity across the global business.  

The group’s innovation credentials were further strengthened last year with the acquisition of RCD, a leading independent Spanish law firm. RCD was the first in its market to establish a specific innovation department. The addition of this business also helped DWF establish a major presence in Spain. 

Premier Foods plc 

Hertfordshire-based Premier Foods operates primarily in the ambient food sector, the largest sector within the total UK grocery market. The group’s grocery business is responsible for developing its portfolio of brands in four key categories: Flavourings & Seasonings; Cooking Sauces & Accompaniments; Quick Meals, Snacks & Soups; and Ambient Desserts. 

Premier Foods experienced a significant restructuring of the senior leadership team last year, resulting in a clear strategy to deliver sustainable, profitable growth to shareholders. The strategic review concluded with a landmark pensions agreement, bringing three legacy Defined Benefit schemes together in a segregated merger, which will significantly improve the group’s pension funding situation and capital structure.

Last year also saw the sale of Premier Food’s bread business, Hovis, to private equity firm, Endless, which strengthens the group’s financial position and provides strategic opportunities for growth.

Xaar plc 

Cambridge-based Xaar is the world’s leading independent manufacturer of piezo-based drop-on-demand inkjet technologies. Its technology is used in a wide range of manufacturing applications, including graphics, labelling, direct-to-shape, packaging, product decoration, ceramic tile and glass decoration, décor, and outer case coding – as well as printing with specialist functional fluids for advanced manufacturing techniques.

After experiencing a couple of challenging years, Xaar’s Board were faced with making some difficult decisions, including ceasing its Thin Film technology business. A new management team embarked on a major turnaround, changing sales and distribution and product strategies and re-engaging with lost customers. The results have been rapid, with a significant number of major contract signings and a much improved financial performance

This new strategy was couple with investment from its partner, Stratasys, in Xaar 3D, which provided a sense of optimism to the business. The group’s share price has increased nearly seven fold since the lows of March 2020.

fund manager award

sponsored by UBS

 
The 2020 shortlist:

James Baker/Chelverton Asset Management 

James currently works at Chelverton and has over 30 years of equity market experience on both buy and sell sides, specialising in UK small and mid cap stock selection for the duration of his career. He has worked for several organisations over the years, but most notably spent 11 years from 1999 to 2011 as part of the ABN Amro, Small and Mid cap sales team. 

James had an outstanding year last year in terms of performance and his longer-term track record has also been consistently strong. The Voting Panel observed that James has earned a reputation for being able to spot the disruptors in the market and is one of the best performing Fund Managers in the sector. 

Performance:
1 year – 17.2%
3 years – 44.1%
5 years – n/a

*source Trustnet.com

Rosemary Banyard/Downing 

Rosemary joined Downing in March 2020 to launch the VT Downing Unique Opportunities Fund. Prior to this, Rosemary spent nearly 20 years at Schroders, managing its UK Smaller Companies fund. She began her career with James Capel & Co where she was a senior investment analyst for 12 years before becoming a fund manager at AIB Govett. 

Rosemary is one of the leading fund managers in the UK. She is known for hunting down the best companies in the UK, unconstrained by market cap, and delivering benchmark and inflation-beating returns to investors over the long term. The Voting panel observed Rosemary is an excellent advocate for UK growth companies. 

Performance:
1 year – n/a
3 year – 63.4%
5 year – 96.4%
7 year – 109.2%
10 year – 265.8%

*source Trustnet.com

Georgina Brittain/J.P. Morgan Asset Management 

Georgina is a portfolio manager for small and mid cap strategies within the J.P. Morgan Asset Management International Equity Group – Behavioural Finance Team. Georgina manages the group’s UK small and mid cap funds and is also a co-manager for its range of European small cap funds. Georgina has been with the group since 1995 and was previously an analyst in the UK research department.

Georgina is a passionate and dedicated investor in UK equities and takes her responsibility for people's equity to heart. The Voting Panel commented on the strength of both Georgina’s long term and short term track record in JP Morgan’s Smaller Companies Investment Trust and the several other funds she runs. Last year was a notoriously challenging year for all investors, but Georgina navigated the extraordinary macro backdrop exceptionally well and her strong performance is testament to this. 

Performance:
1 year – 5.2%
3 years – 18.8%
5 years – 69.8%
7 years – 96.5%
10 years – 182.3%

*source Trustnet.com

Anthony Cross/LionTrust Asset Management 

Anthony joined Liontrust in 1997, forming the Liontrust Economic Advantage process. Prior to this, he joined Schroder Investment Management as a graduate trainee, later becoming an equity analyst before joining the Smaller Companies team in 1994. 

Anthony is an experienced stock picker and over a long track record has consistently outperformed his peer group. His stock picking has had a material positive impact on results, which have been similar in both rising and falling markets. The Voting Panel observed Anthony’s consistency and strong analytical skills.

Performance:
1 year – 2.5%
3 years – 22.7%
5 years – 72.6%
7 years – 95.8%
10 years – 191.4%

*source Trustnet.com

Richard Power/Octopus Investments 

With overall responsibility for small caps at Octopus, Richard has over 20 years’ experience of smaller company investing. Richard is lead manager of the FP Octopus UK Micro Cap Growth Fund and oversees the investment process of the team. Richard gained his first experience of fund management at a traditional private bank, and this ethos of personal client service has always been an integral part of his approach.

Richard’s excellent long-term stock picking ability and long-term performance were observed by the Voting Panel. The long-term, satellite approach is integral to the fund management team at Octopus and has yielded very positive results. Over three years, Octopus is the best performing fund within its sector and is second over both 1 and 5 years.

Performance:
1 year – 40.1%
3 years – 58.5%
5 years – 153.8%
7 years – 120.1%
10 years – 220.3%

*source Trustnet.com

Mike Savage/Killik & Co 

Mike joined Killik & Co in 2006 and runs the firm’s Special Situations segregated managed service, which is available only to Killik clients. Mike is a former institutional broking analyst and specialist salesman who enjoyed spells at Kleinwort Benson and Investec Securities, amongst others, before joining Killik & Co to launch an institutional offering for the firm. He then pivoted to “ the buy side”, launching the Special Situations segregated discretionary portfolio service in 2010, to invest primarily in UK smaller companies.

Mike, and his no.2 Peter Bate, bring a unique skill set to the private client world, which is the ability to gain access to IPOs and secondary fundraisings that are generally not made available to private clients; this augments their day-to-day stock picking. The service is now one of c. £130m of AUM, of which around half is monies run on behalf of other City professionals. The Voting Panel observed Mike’s consistently solid performance in addition to his distinctive role as the ‘broker’s broker’.

Performance:
1 year – 43.1%
3 years – 36.3%
5 years – 119.5%
7 years – 87.2%
10 years – 173.4%

Richard Watts/Jupiter Asset Management 

Richard is Head of Strategy in the UK Small & Mid Cap team at Jupiter. Before joining Jupiter in July 2020, Richard worked at Merian Global Investors as a UK mid cap portfolio manager and prior to this worked at Orbis Investment Advisory as an equity analyst. Richard began his investment career in 1998.

Richard has delivered consistent benchmark beating capital growth, despite the challenges faced in UK over the past few years, producing a 10% return in 2020. Richard and the team have put significant effort into positioning the group as a crossover investor, one that invests in both public and private companies, with the aim of helping private companies to transition to the public market. Richard’s efforts with private companies was commended by the Voting Panel.

Performance:
1 year – 5.1%
3 years – 6.5%
5 years – 59.5%
7 years – 95.9%
10 years – 217.3%

*source Trustnet.com

Gervais Williams/Premier Miton Investors

Gervais joined Premier Miton in March 2011. He is Head of Equities and manages a number of funds and trusts. Gervais’ fund management career extends over 30 years including 17 years at Gartmore Group Ltd, where he was head of UK Small Companies investing in UK smaller companies and Irish equities.

Gervais had an outstanding year last year in terms of performance and has also demonstrated an exceptional longer track record. The Voting Panel observed that recognition should be given to Gervais’ role as an ambassador for small caps and more broadly as an advocate for UK companies. Gervais is evangelical in his support of UK plc and has a visible, prominent profile amongst the wider Fund Manager community.

Performance:
1 year – 41.0%
3 years – 22.9%
5 years – 50.7%
7 years – 68.7%
10 years – n/a

*source Trustnet.com

Nick Williamson/Jupiter Asset Management 

Nick is a Fund Manager in the UK Small and Mid Cap team at Jupiter. Prior to this, Nick worked at Merian Global Investors as a UK smaller companies portfolio manager and before this worked as a sell-side analyst for over a decade with a broad range of analytical responsibilities, most recently at Citigroup. Nick began his investment career in 1995.

Nick enjoyed a very successful year in 2020 and moved up in the ratings, thanks to the blockbuster IPO of THG which benefitted the fund. The Voting Panel commented on Nick’s broad range of analytical skills, which have produced positive results over the longer term. Nick’s current strategy for the portfolio is to balance structural growth and cyclicality to provide protection.

Performance:
1 year – 6.2%
3 years – 14.0%
5 years – 120.2%
7 years – n/a
10 years – n/a

*Source Trustnet.com

Ken Wotton/Gresham House

Ken is Managing Director, Public Equity, at Gresham House and heads the investment team managing public equity investments. He is lead manager for LF Gresham House UK Micro Cap Fund, LF Gresham House UK Multi Cap Income Fund, Strategic Equity Capital plc and manages AIM listed portfolios on behalf of the Baronsmead VCTs. Ken was an equity research analyst with Commerzbank and then Evolution Securities prior to spending the past 14 years as a Fund Manager at Livingbridge and now Gresham House.

Ken is a high-profile member of the Fund Manager community and his selective approach, based on extensive research, has resulted in multiple successful holdings. The Voting Panel noted Ken’s strong risk-adjusted performance over the long term. Ken maintained an unblemished record for the LF Gresham House UK Micro Cap fund, which ended 2020 delivering another positive return and continued to be the only fund in the UK Smaller Companies sector to have delivered a positive performance in every calendar year since its launch in 2009.

Performance:
1 year – 4.5%
3 years – 23.7%
5 years – 55.5%
7 years – 77.2%
10 years – 131.2%

*source Trustnet.com

breakthrough of the year award

sponsored by RBC Capital Markets

 
The 2020 shortlist:

AO World plc 

AO World is a leading online retailer, selling electrical and electronic goods in the UK and Germany, and delivering them via its in-house logistics network. The group started by selling white goods but currently sells electronics across all categories including major domestic appliances, audio visual equipment, computing, mobile, gaming and smart home technology.

AO experienced a breakthrough year in 2020, which was achieved by going back to basics and bringing clarity and leadership to its business fundamentals. The group bought in a new CEO who implemented a review of the business, culture and objectives, resulting in an organisation that is entirely focused on customers, innovation and growth. AO closed the year in a strong position, as the actions taken to strengthen its business flowed into its financial results. 

AstraZeneca plc 

AstraZeneca is a global, science-led biopharmaceutical business whose innovative medicines are used by millions of patients worldwide. The business is driven by innovative science and an entrepreneurial culture and is focused on the delivery of life-changing medicines that are fuelling growth and contributing value to patients and society.

AstraZeneca’s vaccine development was a true scientific breakthrough in addition to being an outstanding breakthrough for humanity. The team’s efforts to develop, manufacture and supply a vaccine to prevent COVID-19, which was committed to at no profit, was nothing short of heroic. The group worked around the clock to seek regulatory approval and supply billions of vaccine doses around the world as quickly as possible, whilst retaining the highest of quality standards. The time scale this was achieved in will be remembered as a historical achievement. 

BATM Advanced Communications Limited 

BATM is a leading provider of real-time technologies for networking solutions and bio-medical systems. The group operates through two divisions: the Bio-Medical division; and the Networking & Cyber division, which have been built on the creation of strong intellectual property backed by strong patents. 

The first half of 2020 was a breakthrough period for BATM due to the substantial investment the group made over several years to build a best-in-class diagnostics platform. This platform enabled BATM to rapidly respond to the COVID-19 outbreak by developing multiple antigen and serologic testing kits that received significant demand throughout 2020. In addition, the group delivered a substantial contract for the manufacture of critical care ventilators. Consequently, BATM experienced revenue growth in all its business units, which was reflected in its share price increase of over 120%.

Oxford BioMedica plc 

Oxford Biomedica is a leading, fully integrated, gene and cell therapy group focused on developing life changing treatments for serious diseases. The group has built a sector leading lentiviral vector delivery platform (LentiVector®) to develop in vivo and ex vivo products both in-house and with partners. 

Oxford BioMedica experienced two major breakthroughs last year. In April 2020, the group joined the Oxford Vaccine Consortium and shortly afterwards signed the first of two historic agreements with AstraZeneca for production of the COVID-19 vaccine, cementing its position at the centre of the UK cell and gene therapy industry. In October 2020, Oxford BioMedica had four manufacturing suites approved by the MHRA, three of which were contracted by AstraZeneca, and are currently producing bulk vaccines at 1000L scale. Oxbox, the group’s world class, 84,000 sq. ft. manufacturing facility was completed in record time and was formally opened by Boris Johnson in January this year. 

Reach plc 

Reach is the largest commercial national and regional news publisher in the UK. It creates engaging, differentiated content which is distributed through newspapers, magazines and digital platforms. The group’s iconic brands, such as the Daily Mirror, Sunday Mirror, Daily Express and Sunday Express have a long history of being trusted sources of information. 

Since inception, Reach has always looked to adapt and evolve. The media industry, like many others, is rapidly evolving and faces challenging trading conditions with consumer behaviour and digital developments changing the shape of the publishing industry. Reach made a significant breakthrough by responding to these challenges and investing heavily in the digital side of the business. The strategic investment placed in the digital platform provided Reach with 5m registered users, one of the largest online media audiences in the UK. Subsequently the group performed far ahead of expectations last year.

TT Electronics plc 

TT Electronics mission is to solve electronic challenges for a sustainable world. It designs and manufactures solutions that enable a cleaner, smarter and healthier environment. The group supplies products and services in the healthcare, aerospace & defence and automation & electrification markets. 

TT Electronics breakthrough was to help develop the Virolens® system, which provides test results for COVID-19 in 20 seconds. The group worked with British start-up, iAbra, and its partners including Intel, to design, develop and test the prototype system which uses microscopic holographic imaging and (AI) software technology to detect the presence of the COVID-19 virus from a non-intrusive saliva swab test within 20 seconds. TT Electronics took the product from concept to production in just 14 weeks and have put themselves on the map with this major step forward in dealing with the pandemic. The group’s share price rose over 40% after announcement of its breakthrough system. 

CEO of the year award

sponsored by Primary Bid/Research Tree

 
The 2020 shortlist:

Brian Duffy/Watches of Switzerland Group plc 

Brian has been CEO of Watches of Switzerland (WOS) since 2014. His career began as a chartered accountant and he worked at KPMG before heading to the US, where he became Finance Manager at Playtex. Brian subsequently became General Manager, launching the famous Wonderbra marketing campaign in 1994, and establishing an international reputation. Brian has previously served on the boards of several subsidiaries of Ralph Lauren, as well as the boards of Celtic plc, and Sara Lee Corporation. 

Brian was instrumental in transitioning the group from private to public and completing a successful IPO in May 2019, giving the business a market cap of £647m. Despite the pandemic hitting the UK just ten months later, causing store closures in the UK and US, under Brian’s leadership, WOS planned, adapted and responded to the pandemic, resulting in record sales and profits during the year. Brian focused the group’s attention and investment on the ecommerce business, which has seen a sharp acceleration, and implemented further enhancements to the online platform, making WOS well positioned for future growth.

Ian Page/Dechra Pharmaceuticals plc 

Ian has been CEO of Dechra since 2001. He joined the group at its formation in 1989 and was an integral part of its MBO.  He is one of the longest serving CEOs in the mediscience sector and his relationship with Dechra dates back to when he was a teenager. Ian’s extensive experience in M&A has resulted in a number of acquisitions that have transformed the business, such as AST Farma and Le Vet. 

During his tenure, Ian has expanded and diversified Dechra, resulting in unprecedented growth in addition to significant gains in profits and share price. Ian ensured the group remained resilient throughout a challenging year last year by delivering further international expansion and continuing to complete targeted acquisitions, resulting in Dechra outperforming the market. The Voting Panel commended Ian for his consistent, successful delivery and his absolute commitment to creating value for shareholders over a 20 year period.

Mike Norris/Computacenter plc 

Mike has been CEO of Computacenter for over twenty years. He joined the group’s sales team in 1984 after graduating from university and went on to hold a number of roles before taking over the management reins in 1994. Mike was one of 250 employees when he joined the company at 22 years old. The group now employs over 17,000 people.

Mike is the driving force behind Computacenter’s strategy and growth ambitions and is responsible for ensuring the company delivers value to its customers and shareholders. He led the group through its flotation in 1998 and subsequently helped it thrive by adding additional services, such as maintenance and software licensing, to the traditional business. Mike has built a dynamic team around him and is very highly regarded by the employees. He volunteered to reduce his salary to zero out of "solidarity" with staff put on furlough, demonstrating his strong leadership throughout the pandemic. 

Duncan Penny/XP Power Limited 

Duncan joined XP Power in April 2000 as Group Finance Director. He was appointed CEO in 2003 and held this role until January 2021.  Duncan will retire from XP Power in April 2021. Prior to XP, Duncan was the Controller for the European, Middle Eastern and African regions for Dell, and prior to this worked for LSI where he held senior financial positions in both Europe and Silicon Valley. 

Ahead of his retirement, Duncan leaves XP Power in excellent shape, having consistently delivered strong returns for shareholders. Duncan established a high-quality team during his tenure and his strong leadership cascaded through all parts of the business. The group experienced a stellar year last year after receiving an exceptionally strong order intake in its third quarter, driven by demand from the semiconductor equipment manufacturing sector. Its full year performance was expected to be ‘towards the top end’ of analyst expectations. 

Peter Pritchard/Pets at Home Group plc 

Peter joined Pets at Home in 2011 as Commercial Director and moved to the role of Chief Executive Officer of Retail in 2015. He was appointed Group CEO in April 2018. Peter has worked in retail for 30 years in various senior operational and commercial roles at Asda, Sainsbury’s, Iceland, Marks and Spencer and Wilkinson Hardware Stores. 

Since taking the helm at Pets at Home, Peter, who is a first-time CEO, has completely transformed the business. His strategy was to refocus the business on exploiting its core assets of pet shops and vet clinics to provide a 360 degree pet care service for customers. Recognising the importance of digital and data, Peter transformed his leadership team placing this at the heart of the strategy. Pets at Home was granted essential status throughout the pandemic and Peter provided daily video briefings for all staff. Despite all the challenges the business faced, Pets at Home delivered a record-breaking trading period with revenue exceeding £1bn for the first time. 

Nick Wilkinson/Dunelm Group plc 

Nick has been CEO of Dunelm since February 2018. He is a proven business leader in multi-channel retail businesses across a number of brands and geographies, having held a number of CEO roles. Prior to Dunelm, Nick was CEO of Evans Cycles and before this, he was CEO of €1.4bn turnover Maxeda DIY, a Belgian and Dutch home improvement retailer. 

At the point of joining the business, Dunelm’s share price was laid low due to a drop in pre-tax profits. In the short time Nick has led the group, he has focused on growing the brand and extending its reach, in addition to investing in the group’s digital offering, resulting in a significant increase in turnover and profits. In response to the pandemic, Nick took a 90% pay cut for three months, despite the business reporting a surge in online sales. The group also adapted its curtain factory in Leicester to make medical gowns for the NHS. 

new company of the year award 

sponsored by Link Group

 
The 2020 shortlist:

Bytes Technology Group plc 

Surrey-based Bytes is one of the UK's leading providers of IT software offerings and solutions, with a focus on cloud and security products. The Bytes Group enables effective and cost-efficient technology sourcing, adoption and management across software services, including in the areas of security and cloud. The group aims to deliver the latest technology to a diverse and embedded non-consumer customer base and has a long track record of delivering strong financial performance.

Bytes Technology demerged from Altron, a South African listed technology company, in December 2020 when it listed on the Main Market. In addition, it gained a secondary inward listing on the Johannesburg Stock Exchange. The group’s significant IPO raised gross proceeds of approximately £352m. In the first hour of trading, Bytes' share price rose to 325p, a sharp increase from its float price of 270p, valuing the business at around £780m, which would currently secure entry into the FTSE 250 at the next reshuffle.

Conduit Holdings Ltd 

Conduit is a Bermuda-based pure play reinsurer. The group is building a high-quality underwriting franchise across a broad spectrum of underwriting classes in property, specialty and casualty. The business is led by two highly experienced industry professionals who have a track record of building and running successful global reinsurance businesses across market cycles.

Conduit joined the Main Market in December 2020 with an £826m IPO, one of the largest seen in the UK last year. The group issued 164m shares at 500p each, with its order book closing two days earlier than scheduled. Against the industry background of losses, litigation and capacity constraint, Conduit has no legacy exposure, therefore its strong and unencumbered balance sheet will be available to write new business in an attractive market environment. The group has been widely accepted by brokers and clients as a positive and value-adding business partner.

HeiQ plc 

Switzerland-based HeiQ is a leader in textile innovation, having created some of the most effective, durable and high-performance textile technologies in the market today. The group has an abundance of technology and products to help reduce carbon emissions and to tackle the Covid-19 virus with its Virobloc face masks and laundry treatment. Since 2005, HeiQ has developed over 200 technologies in partnership with 300 major brands.

HeiQ floated on the Main Market in December 2020 by way of a reverse take over of Auctus Growth Plc. The admission followed an oversubscribed placing and subscription, raising £60m from institutional and other investors. The funds raised will help HeiQ build on the significant momentum the group achieved in 2020, partly due to growth in the antimicrobial market. The launch of its HeiQ Viroblock product more than doubled the groups revenue in the first half of last year alone.

Ninety One plc 

London-based Ninety One is the asset management arm of South African banking group, Investec. The group began with the aim of making a positive difference and its purpose is focused on ‘Investing for a better tomorrow’, guiding Ninety One’s strategic decision making, its culture and its daily endeavours. 

In March last year, against a challenging backdrop, Investec demerged its asset management arm and secured a dual listing on London’s Main Market and the Johannesburg Stock Exchange. The Voting Panel commended the group’s ability to complete the listing amidst an unprecedented market downturn. Analysts set the market capitalisation at nearly £1.9bn, with the UK and the South African arms valued at £1.2bn and £700m respectively.   

Pensana plc 

London-based Pensana, also listed on the Australian Stock Exchange (“ASX”), focuses on Neodymium and Praseodymium, collectively known as NdPr. These rare earth metals are well-recognised for their long-term success in the heavyweight automotive and industrial power industries, with demand for NdPr expected to double by 2025. Pensana is focussed on developing the Longonjo project in Angola, an area with some of the largest deposits of high grade NdPr in the world.

Pensana brought its Longonjo project to the main board of the London Stock Exchange in July last year, in the UK’s first resources-focused public listing since the COVID-19 pandemic took place.  The group did not raise any funds in connection with the admission, having already raised $15m in two rounds of financing, including from Angola’s sovereign wealth fund, leaving Pensana sufficiently capitalised. Pensana owns 84% of the Longonjo project whilst the Angolan government has a 10% stake with the balance owned by minority shareholders.

THG Holdings plc 

Manchester-based THG is a vertically integrated digital-first consumer brands group, retailing its own brands in beauty and nutrition, plus third-party brands, via its proprietary technology platform to an online and global customer base. THG is powered by THG Ingenuity, its proprietary end-to-end e-commerce technology, infrastructure and brand building platform.

THG floated in September 2020, raising £1.88bn on its stock market debut, giving the group a valuation close to £5.4bn, and making it the UK’s largest ever technology IPO. Since listing, the group’s performance has been strong, with a steep increase in share price and an increased market cap of £7.2m. In June 2020, THG Ingenuity, the technology services division of THG, announced the signing of major partnership agreements with global beauty brands Elemis, PZ Cussons Beauty, Burt’s Bees, Nuxe, By Terry and Revolution Beauty, in deals worth more than £100m. 

The group has addressed some corporate governance concerns through the appointment of two new independent non-executive directors and a number of special advisers.

company of the year award

sponsored by Liberum

 
The 2020 shortlist:

Clipper Logistics plc 

Clipper, also shortlisted for the Innovation in Technology Award, provides value-added logistics services to the retail sector. The group is managed through two distinct operating segments: value-added logistics services (comprising e-fulfilment & returns management services and non e-fulfilment logistics); and commercial vehicles.

Clipper achieved a milestone during its financial year to end 30 April 2020, with revenues exceeding £0.5bn for the first time. The group demonstrated its agility and speed in response to the demand created for online fulfilment and returns management caused by the lockdown, and also stepped in to assist the NHS Supply Chain with provision of PPE to hospitals and other care providers during the pandemic.

Clipper’s fast, fluid and innovative approached termed “The Clipper Way” underpins every area of the group’s operations, including its Fresh Start programme, which offers employment to people who would otherwise face barriers to work, such as Mencap (supporting the disabled) and Tempus Novo (supporting ex-offenders).

Electrocomponents plc 

Electrocomponents was founded in 1937 as Radiospares and floated in 1967. Today the group is a global omni-channel solutions partner for industrial customers and suppliers. Electrocomponents offers more than 500,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provides a wide range of value-added solutions.

2020 was another strong year for Electrocomponents, with continuing market share gains and revenue growth, despite the uncertain macroeconomic backdrop. The group reported revenues of £1.95bn during its financial year to end March 2020. Its success is attributed to its supply chain consolidation, digitalisation and strategic M&A, in addition to its clear strategy “Destination 2025” which was created to drive scale and efficiency.

Electrocomponents played an important role during the COVID-19 crisis by helping provide solutions, parts, and equipment to keep critical industries running across the public sector, utilities, healthcare, and food & beverage sectors. The group also supported a number of manufacturing consortia as they sourced key parts and solutions to build ventilators, in addition to setting up 3D printing farms to produce and distribute personal protective equipment to frontline health staff in the UK and the Americas.

Genus plc 

Genus is a world-leading animal genetics company. The group breeds superior pigs and cattle, so farmers can produce high quality meat and milk more efficiently and sustainably. Genus uses advanced, innovative technology to analyse animals’ DNA and look for markers that are linked to desirable characteristics, which subsequently help farmers to raise healthier and more productive animals.

The group’s performance during the year was strong, with record adjusted profit before tax and record revenues of £71.0m reported in the year to end June 2020. Genus demonstrated resilience during the pandemic, which disrupted its protein supply chains, and demonstrated strength by helping China rebuild pig herds after the devastation of African Swine Fever.

Genus continues to invest in its innovative gene editing technologies and is on the verge of a major breakthrough that could overcome one of the most harmful diseases in the pig industry, PRRSV. The group has an excellent pipeline of superior genetics in its nucleus herds that will help maintain its leading position for years to come.

Intermediate Capital Group plc 

Intermediate Capital Group (ICG) is an alternative asset manager in private debt, credit and equity. The group consists of the fund management company (FMC) and the investment company (IC). The company operates across four asset classes, including corporate, capital markets, real assets and private equity solutions. It provides senior, whole, development, mezzanine and equity loan financing solutions to a diverse range of borrowers.

2020 was another year of excellent operational delivery for ICG. The group reported a robust financial position and strong balance sheet, with £1.2bn of available liquidity in the year to end March 2020. ICG’s results were achieved through transforming and strengthening its business model. The group evolved from being a balance sheet investor to becoming a leading global alternative asset manager with a diversified product offering from a broad and global institutional client base.

ICG has a management team with a long-term vision, a well-capitalised balance sheet and a well-established ESG investment process to enable the group to exploit its growing range of geographic and product offerings, making the prospects for future profitable growth very positive.

Kainos Group plc 

Kainos Group plc is a leading high-growth provider of digital services and platforms to public and private organisations around the globe. The group has a long history of successfully delivering complex projects and saving money for customers in the public and private sector. Kainos used its technological transformation to help the Government and NHS, among many others, by providing a digital approach suitable for the 21st century.

Last year, Kainos achieved its tenth consecutive year of growth, which was a significant milestone for the business. Revenues for the year to end March 2020 grew by 18% to £178.8m and the group’s success in winning projects with new and existing customers has provided an excellent platform for future growth.

Kainos reacted swiftly and prudently to the pandemic, seamlessly transitioning to delivering IT Services entirely remotely, whilst implementing key projects to government. The group worked closely with NHS Digital to help deliver a number of urgent requirements that supported the NHS response to the pandemic. Kainos upgraded its profit forecasts three times during the year and its shares have increased over 50% over the past twelve months.

Treatt plc 

Treatt is a global independent ingredients manufacturer and supplier to the flavour, fragrance and consumer goods industries. Treatt works at the cutting edge of the flavour and fragrance industry and creates outstanding sustainable ingredients, designed around its customers’ needs. Its flavour and fragrance ingredients are the result of over a century of knowledge and innovation.

Last year, Treatt recorded its eighth consecutive year of growth and was able to meet its pre COVID-19 expectations without the need for any government assistance, despite experiencing significant disruption in its market. The group broke through the £500m market cap barrier, which has increased four-fold in just five years, and delivered revenues of £109m during the year to end  September 2020, up 11.3% on the previous year.

The pandemic underlined the importance of ESG matters for Treatt and the group is developing a formal strategy to build on the existing and long-standing sustainability initiatives already present in the business. Treatt continues to diversify into new categories and focus on increasing its provision of added-value solutions across its portfolio to ensure long-term sustainable and profitable growth.