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For future profitability, we need reliable access to the level of funding we require for our development, both equity and debt. We also need to ensure we manage and allocate the company’s capital prudently and balance our shorter-term objectives against longer-term goals.
We have relationships with major banks across the regions in which we work, which allows us to access medium-term banking finance, and operate a policy of disclosure and open discussion with them. Since 2003 we have also developed a presence in the UK and US private placement market where we raised close to US$200 million in the US. This makes us less dependent on a single source of funding.
Our approach to cash and debt management is outlined in our Annual Report and Accounts. For full details, please see our online version at www.amec.com.
We have an active investor relations programme and have regular feedback from our major investors, to ensure they are up-to-date with our corporate governance, risk management and sustainability procedures. We believe that we compare well with companies of a similar size in terms of the level of access and information that we provide to our investors.
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