NG Bailey, the UK’s largest independent engineering, IT and facilities services group, increased sales over the past year by 23 per cent and doubled its operating profits.
Figures for the period ending 24 February 2017 show that sales increased from £408m to £500m and operating profits grew 100 per cent, from £6m to £12m. The Group’s forward order book rose by 10 per cent, to £902m.
The group’s strong performance reflects the continuing success of its diversification strategy, which has seen NG Bailey move from a reliance on building construction to a balanced portfolio across services (IT and facilities management), large-scale engineering construction projects and traditional building construction.
Sales across all its Engineering and Services divisions increased during the year.
The group’s innovative projects include mechanical and electrical (M&E) services at London Bridge, featuring the UK’s most advanced rail control centre; the MEP on the installation of one of the world’s most powerful computers, at the Met Office in Exeter; the UK’s largest commercial Passivhaus building, at the University of Leicester, and a major infrastructure contract at Belfast Waterfront to equip the entertainment and conference venue with smart building connectivity.
NG Bailey also worked in conjunction with CIBSE to develop the award-winning BIMHawk, a free web-based system and software plug-in that significantly improves BIM Level 2 productivity.
David Hurcomb, Chief Executive of NG Bailey, said: “Our operating performance over the past year shows the strategy we put in place six years ago – when the construction industry was being heavily impacted by the economic downturn – was the right one. I would like to thank our great people, who have delivered this tremendous result.
“However, we cannot afford to be complacent. Each of our key divisions performed strongly over the past year, but we are operating in what is still a challenging environment for our industry, and with a backdrop of continuing political and economic uncertainty.
“As family owned company, our independence provides us with the freedom to strategically reinvest our profits in areas that support future growth and enable us to be a sustainable business.
“Our success has been built on a platform of industry-leading expertise and exceptional customer service delivery, and that will remain our focus over the next 12 months and beyond.”
In addition, £3m a year is being invested in the training and development of its people, and over the past 12 months the Group has more than doubled the range of qualifications available in its award-winning apprenticeship programme.
Kevin Whiteman, chairman of NG Bailey, added: “Our financial strength, with no third party borrowings and net assets of £124m, allows us to invest for growth and to support the development of our people.
“We also recognise the opportunity, as a responsible business, to positively impact all our stakeholders, including almost 3,000 employees. That is why we are committed to environmental and social sustainability in order to build a better future for us all.”