A year of stability and progress at ng bailey brings improved order book quality and profitability

NG Bailey, the UK’s largest independent engineering and infrastructure services business, has reported a year of record sales and improved profitability as it delivers its strategy for sustainable, long-term growth.

The positive financial results follow Jonathan Stockton’s first year in post as NG Bailey’s Chief Executive and the launch of the Group’s Journey to 2030 strategy, which will see it undertake a programme of targeted investment over the next five years as it looks to deliver on its ambitious growth plans.  

For the year ending 28 February 2025, NG Bailey reported turnover of £662m, up from £600m in 2024; the highest turnover recorded in the Group’s 104-year history. Underlying operating profit for the year also improved to £15.0m, up from £11.2m in 2024.

The company’s balance sheet strength continues to grow, with net assets of £141m (2024: £129m), including cash and investments of £92m (2024: £70m) and no external debt.

The Group has grown its order book to £1.6bn (up from £1.4bn in 2024), with an increasing proportion of work directly with end clients, alongside work through its preferred main contractors. The order book has a healthy mix of project work and predictable, recurring income contracts.

NG Bailey continues to prioritise markets with high barriers to entry that are more resilient during economic downturns, such as defence, healthcare, rail and nuclear which helps spread risk and gives the Group more stability overall. Its chosen sectors are well-aligned to where future growth and funding is heading, linked to the net zero agenda and major UK infrastructure projects.

Jonathan Stockton, Chief Executive at NG Bailey, said: “It has been a year of stability and progress at NG Bailey, with record sales alongside improved profitability and cash generation. 

“This positive financial performance is rooted in our relentless focus on managing project risk and prioritising bottom line returns over top line revenue growth. Our criteria for selecting the projects we take on is stringent across the Group, which we see as critical in a resource constrained market.”

“Our Journey to 2030 strategy builds on the heritage and strengths of NG Bailey, with a commitment to invest for the long-term, allowing us to capitalise on the significant opportunities in our marketplace, including selective low-risk strategic acquisitions that can complement organic growth by adding capability, geography and resilience.

“With our service lines and sector focus aligned with the UK’s net zero agenda and critical infrastructure projects, and a reputation across the industry for delivery excellence, we are in a strong position as we embark on our Journey to 2030 roadmap which sees sustainable, long-term growth in the years to come.”  

NG Bailey’s newly formed Built Environment Division, which brings together the Engineering, Facilities Services and EV Infrastructure businesses, has delivered a strong performance in the 2024/25 year. All three business streams achieved year-on-year growth in turnover and profitability, underlining the Group’s successful execution of its diversified and resilient business strategy.

The rapidly growing EV Infrastructure business has successfully delivered several high-profile projects and is well positioned to capitalise on the UK’s transition to electric vehicles. With a strong project pipeline and strategic partnerships in place, the EV business is playing a key role in supporting the UK’s decarbonisation and sustainable transport goals.

Freedom, NG Bailey’s electricity infrastructure business, continues to be a major growth driver for the Group. In 2024/25, it delivered year-on-year profit growth, underpinned by its strategic partnerships with UK Distribution Network Operators (DNOs) and its critical role in supporting the country’s energy transition. With increasing demand for grid resilience and electrification, Freedom is well positioned to benefit from further regulatory investment and decarbonisation initiatives. 

NG Bailey has continued to invest heavily in its people to support its future growth plans and ensure it continues to be a great place to work. Investment this year has included the relocation of its Leeds headquarters to a new 25,000 sq ft office in White Rose Business Park, as well as launching two new executive development programmes to strengthen its leadership and succession pipeline.

Jonathan Stockton added: “Our people are the cornerstone of our business and so our strategy includes targeted investment to ensure we have the right skills and experience to deliver our plan while continuing to foster a healthy and supportive work environment.”