NATS (EN ROUTE) PUBLIC LIMITED COMPANY
Operating as a subsidiary of NATS Holdings, the company is the sole regulated provider of civilian en-route air traffic control services across the United Kingdom.
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Cash
£72M
-21.2% vs 2024
Net assets
£700M
-9.6% vs 2024
Employees
3,561
+5.4% vs 2024
Profit before tax
£222M
-44% vs 2024
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £1,029,500,000 | £895,700,000 | -13% | |
| Operating profit | £381,600,000 | £194,300,000 | -49.1% | |
| Profit before tax | £397,000,000 | £222,300,000 | -44% | |
| Net profit | £299,800,000 | £167,100,000 | -44.3% | |
| Cash | £91,100,000 | £71,800,000 | -21.2% | |
| Total assets less current liabilities | £2,112,300,000 | £2,041,700,000 | -3.3% | |
| Net assets | £773,800,000 | £699,700,000 | -9.6% | |
| Equity | £773,800,000 | £699,700,000 | -9.6% | |
| Average employees | 3,378 | 3,561 | +5.4% | |
| Wages | £296,500,000 | £321,800,000 | +8.5% | |
| Directors' remuneration | £2,093,000 | £2,464,000 | +17.7% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 37.1% | 21.7% | |
| Net margin | 29.1% | 18.7% | |
| Return on capital employed | 18.1% | 9.5% | |
| Gearing (liabilities / total assets) | 65.4% | 67.5% | |
| Current ratio | 3.25x | 2.95x | |
| Interest cover | 15.02x | 7.71x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- NATS (EN ROUTE) PUBLIC LIMITED COMPANY 2003-06-30 → present
- NATS (EN ROUTE) LIMITED 2001-02-01 → 2003-06-30
- 3216TH SINGLE MEMBER SHELF TRADING COMPANY LIMITED 2000-12-21 → 2001-02-01
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- EY LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“We have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate.”
Significant events
- “The statutory profit before tax of £222.3m (2024: £397.0m) is £174.7m lower than last year's result, which is in line with expectations.”
- “Last year's result included a one-off amount of £123.3m to align cumulative revenue with the CAA's decision on the value of the Covid income shortfall NATS (En Route) plc (NERL) is entitled to recover.”
- “On an adjusted basis, this year's result is £51.4m lower than last year overall.”
- “The company's cash flows, measured on a debt-adjusted basis, were more closely aligned with the result reflecting improved revenue receipts and the ongoing recovery of the Covid income shortfall, as well as lower pension and tax payments.”
- “The Board resumed dividend payments this year, the first since November 2019 and their pause during Covid and the subsequent recovery.”
- “Average delay per en route flight improved to 4.4 seconds meeting the CAA target of 8.3 seconds (2024: 8.8 secs/flight against a target of 8.5).”
- “We continued to decarbonise our estate, investing in solar arrays at our main air traffic control centres and we were rated by Best Companies as a 'Very Good Company to Work For' following employees' responses to our latest b-heard engagement survey.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
14 active · 35 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CHURCHILL-COLEMAN, Richard Paul | Secretary | 2008-04-01 | — | British |
| BAGWELL, Gregory Jack | Director | 2022-10-01 | Oct 1961 | British |
| BAKER, Ross Findlay Scott | Director | 2023-11-30 | Jun 1974 | British |
| BUSH, Harry John | Director | 2016-04-01 | Aug 1953 | British |
| CAMPBELL, Michael | Director | 2017-05-26 | Aug 1957 | British |
| DA CUNHA, Maria Juana | Director | 2025-08-01 | Jan 1963 | British |
| DELLACHA, Maria Georgina | Director | 2026-03-26 | Jan 1975 | British |
| EAST, David Warren Arthur | Director | 2024-09-01 | Oct 1961 | British |
| FRANKLIN, Gary Adam | Director | 2026-01-01 | Oct 1981 | British |
| MERCHANT, Gavin Bruce | Director | 2016-04-01 | Oct 1969 | British |
| PRUDON, Albertus Antonius Maria | Director | 2023-03-30 | Jul 1975 | Dutch |
| ROLFE, Martin John | Director | 2012-03-02 | Aug 1972 | British |
| SMITH, David Miles | Director | 2022-10-01 | Mar 1961 | British |
| STREET, Louise Anne | Director | 2018-11-29 | Sep 1974 | British |
Show 35 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| PICTON, Andrew Julian Howard | Secretary | 2001-02-01 | 2015-07-01 |
| SISEC LIMITED | Corporate Nominee Secretary | 2000-12-21 | 2001-02-01 |
| ANTONIOU, Maria | Director | 2016-08-01 | 2025-07-31 |
| BARKER, Andrew John Frederick | Director | 2016-09-28 | 2017-09-29 |
| BARRON, Paul Stuart | Director | 2004-06-18 | 2010-03-31 |
| BERNSTEIN, Daniel Lipman | Director | 2001-10-30 | 2007-12-31 |
| BORTHWICK, Alistair John | Director | 2019-10-03 | 2025-12-31 |
| CHISHOLM, Colin Denis King | Director | 2001-02-01 | 2005-04-01 |
| DEAKIN, Richard Simon | Director | 2010-04-01 | 2015-05-18 |
| DEAN OF THORNTON LE FYLDE, Brenda, Rt. Hon Baroness Dean Of Tiior | Director | 2016-04-01 | 2016-07-28 |
| DEVANEY, John Francis | Director | 2005-07-01 | 2014-08-31 |
| EVERITT, Richard Leslie | Director | 2001-07-26 | 2004-06-18 |
| FACEY, William Edward Brinton | Director | 2016-04-01 | 2017-06-30 |
| FOTHERBY, Nigel Terence Chell | Director | 2001-07-26 | 2019-06-30 |
| GIBSON SMITH, Christopher Shaw, Dr | Director | 2001-09-01 | 2005-08-31 |
| GOLBY, Paul, Dr | Director | 2016-04-01 | 2024-08-31 |
| HALL, Ian Robert | Director | 2006-02-23 | 2011-03-24 |
| HOPE, Christopher | Director | 2017-07-27 | 2018-10-04 |
| HOSKINS, Lawrence Anthony | Director | 2006-02-23 | 2008-10-01 |
| HUMPHREYS, Barry Keith | Director | 2004-07-20 | 2008-11-27 |
| KEYS, Richard John | Director | 2016-04-01 | 2022-09-30 |
| LEAHY, Kathryn Maria | Director | 2018-05-31 | 2023-06-04 |
| LORD, Andrew Peter Stanton | Director | 2016-04-01 | 2016-09-28 |
| MAIZEY, Drusilla | Director | 2001-07-26 | 2002-09-24 |
| MCCONNELLOGUE, Hugh | Director | 2018-10-04 | 2022-12-23 |
| MCNICOLL, Iain Walter | Director | 2016-04-01 | 2022-09-30 |
| MILLS, Ian Philip | Director | 2008-02-28 | 2011-09-22 |
| PALMER, Robert | Director | 2001-09-26 | 2001-11-26 |
| PROVAN, Derek | Director | 2016-04-01 | 2018-02-28 |
| READ, Peter Brian Emms | Director | 2016-04-01 | 2017-05-25 |
| STEVENS, Derek Maurice | Director | 2004-02-24 | 2008-09-30 |
| TURNER, Nigel Owen | Director | 2001-07-26 | 2003-12-10 |
| TYLER, Anthony Nigel | Director | 2016-04-01 | 2016-07-28 |
| LOVITING LIMITED | Corporate Nominee Director | 2000-12-21 | 2001-02-01 |
| SERJEANTS' INN NOMINEES LIMITED | Corporate Nominee Director | 2000-12-21 | 2001-02-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Nats Limited | Corporate entity | Shares 75–100% | 2017-02-01 | Active |
Filing timeline
Last 20 of 363 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-31 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-18 | AA | accounts | Accounts with accounts type full | |
| 2025-06-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-31 | AA | accounts | Accounts with accounts type full | |
| 2024-08-23 | AUD | auditors | Auditors resignation company | |
| 2024-06-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-13 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-04 | AA | accounts | Accounts with accounts type full | |
| 2023-06-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-06 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-04 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-24 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2023-02-24 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2023-01-03 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.