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鈥檚 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 拢9 million to just over 拢12 million.
A fall in turnover from 拢491 million to 拢467 million was due to project phasing and was in line with last year鈥檚 predictions.
Chief executive Mark Andrews said: 鈥淭here has been substantial growth in the value of the business, with our net assets rising 21% from 拢68 million to 拢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.鈥�
Bailey, the m&e contracting division, performed particularly well in the North East and North West regions. During the year, construction started on Bailey鈥檚 largest ever contract, a 拢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 拢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.
鈥淭his year there has been a focus on honing our specialist offerings for key business sectors of the future, such as education and retail,鈥� said Andrews. 鈥淲e 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.鈥�
Source
Electrical and Mechanical Contractor