Confidence in Strategy
Horizon is delivering tangible financial benefits as we continue to transform the organisation into a customer-centric, applications focused business. This includes how we are organised internally, our core capabilities and how we work with and support our customers and other stakeholders. We believe there are further gains that the strategy will deliver as we continue to identify additional opportunities to drive growth and improve the efficiency and productivity of the business.
Strong Financial Position
Our focus on Horizon has helped deliver improved profitability and strong cash collection and this has been supported by continued progress in commercial practices across the Group and gains from our operational excellence programme. We have a strong balance sheet and have implemented a number of cash preservation initiatives that will provide additional resilience through the current covid-19 disruption. Our business model focuses on generating sustainable revenue growth and improved profitability and will continue to deliver considerable long-term benefits.
We are committed to adapting our business through the current global disruption and to build on our market leadership, for example by investing in our digital platforms to offer customers ongoing support at this time. We continue to break down functional silos, leveraging skill across the Group to build cross-business capabilities. Our inspired and engaged workforce has embraced the current challenge head-on to help strengthen our agility and position us to capitalise on the growth opportunities that arise and respond quickly to the changing market situation.
We take our role in the world seriously and recognise that how we do business is as important as what we do. Internally, we work to minimise the environmental footprint of our products and services, while investing in our employees to keep them safe and help them develop their career. Externally, we focus on delivering on our purpose to support our customers to address some of the world's most pressing challenges, enabling a greener economy, increased connectivity, improved health and leaps in scientific understanding.
The Group focuses on attractive market segments where our key enabling technologies drive long-term growth for customers and where we can maintain leadership positions. Our access to diverse end markets alongside a responsive and targeted portfolio that supports all stages of the technology cycle allows us to present an integrated offering that has the potential to create significant barriers to entry for competitors. We are confident that our end markets are resilient and should not be weakened in the long term by covid-19 headwinds.