Aim: maintain a conservative and efficient capital structure, with a relatively low level of gearing. It is important for our clients that we are a low risk, stable partner, particularly where we are delivering large scale operations on their behalf. The Group has considerable headroom to take on further debt if necessary as indicated by the interest cover ratio and net debt to earnings before interest, tax, depreciation and amortisation (EBITDA). However, we would be unlikely to exceed gearing of 7x.