Strong growth in sales and profits for NG Bailey
NG Bailey has reported a 23% growth in sales and a doubling in operating profits for the year ending 24 February 2017. The group’s forward order book grew by 10% to £902 million.
Sales for the year increase to £500 million, with operating profit at £12 million.
The strong performance is attributed to 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 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 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, 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.
‘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.’