NG Bailey reports record pre-tax profit and forward order book
A record forward order book of £750 million and record pre-tax profit of £7.2 million for the year to 24 February 2012 have been reported by NG Bailey. Turnover increased by 12% to £464 million. Chief executive David Hurcomb, who took up the position in September 2010, comments, ‘This is a strong result in what has been a very challenging environment, not just for us, but for UK industry as a whole.
‘There are a number of reasons for the positive result, including a reduction in operating costs as we move towards being a leaner business and in improvement in trading across all NG Bailey’s divisions — with every single one returning a profit for the year.’
The facilities-services and IT-services division performed particularly well, but some sections — such as construction— remain very difficult.
In 2011, the business launched a strategy to make more of its full suite of capabilities. Through its five divisions, the company’s design, build, operate and maintain approach enables customers to benefit from a wide range of services that have the ability to reduce build cost, shorten build times and reduce overall operational and energy costs.
Mr Hurcomb concludes, ‘We are a financially sound business, and our foundations are very solid. We have a strong bank balance, considerable net assets of close to £90 million — an increase of £9 million from 2011 — and backing from a family that’s dedicated to the business for the long term.