NG Bailey has outlined its long-term strategy for growth and revealed its financial results for the year, which include a 37% increase in operating profit and a record order book.
NG Bailey, which is the UK’s largest privately-owned building services provider and employs 4000 people, has announced a rise in operating profit for the year to 2nd March 2007 from just under £9 million to just over £12 million.
A fall in turnover from £491 million to £467 million was due to project phasing and was in line with last year’s predictions.
Chief executive Mark Andrews said: “There has been substantial growth in the value of the business, with our net assets rising 21% from £68 million to £83 million. Strategic investment, restructuring and acquisitions since year-end mean that we are in a powerful position for further growth in line with our strategy.”
Bailey, the m&e contracting division, performed particularly well in the North East and North West regions. During the year, construction started on Bailey’s largest ever contract, a £430 million PFI project for the St Helens & Knowsley NHS Trust.
Bailey Off-Site has a major involvement in the St Helens PFI contract, and the £5 million manufacturing facility which opened in 2006, complete with a new Enterprise Resource Planning (ERP) system, enables Bailey Off-Site to be better placed to manage workloads and processes more effectively.
“This year there has been a focus on honing our specialist offerings for key business sectors of the future, such as education and retail,” said Andrews. “We are continuing to work with key main contractor customers earlier in the construction process. This is important to us on a commercial level and also to the quality, speed of delivery and efficiency of the end product.”
Source
Electrical and Mechanical Contractor
