NG Bailey breaks £1bn milestone in 2017/18
NG Bailey, one of the UK’s largest independent engineering, IT and facilities services group has reported a 14% increase in operating profits over the past year and seen its order book break the £1 billion milestone.
Figures for the 12 months ending 2nd March 2018 show operating profits (before exceptional items) rose from £12 million to £13.7 million. Combined with a 14% increase in the company’s order book, maintaining the company’s strong financial position. Turnover fell slightly from £500 million to £418 million, which the company says reflects the impact of changes across the construction sector in the last year.
NG Bailey believes that one of the reasons for its success has been its strategy of targeting a balance of work across services, large-scale infrastructure projects and traditional building construction. Projects completed by the company in the past year include mechanical and electrical services at London Bridge; a life sciences centre in Liverpool; and contracts with Bloomberg and the University of Manchester.
David Hurcomb, chief executive of NG Bailey, says: “Our operating performance over the past year shows our strategy continues to deliver strong results and ensures we remain a profitable and robust business. We are focused on achieving sustainable growth and leadership in our core markets, and we believe there are some exciting opportunities in defence, energy, data centres and rail over the next year.”