N G Bailey breaks through £500m revenue

Privately-owned builder services specialist NG Bailey enjoyed a bumper last year doubling trading profit to £12m.

Revenue also flew up 23% taking the firm to £500m for the first time, while the M&E specialist forward order book rose by 10% to £902m.

David Hurcomb, chief executive of NG Bailey, said the strong performance reflected the continuing success of its diversification strategy.

This has seen NG Bailey move from a reliance on building construction to a balanced portfolio across 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.

Hurcomb 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.

“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.”

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.

He said the specialist was presently investing £3m a year in the training and development of its people.

Key project successes in 2016

The group’s innovative projects include M&E services at London Bridge, featuring the UK’s most advanced rail control centre. It also carried out the MEP on the installation of one of the world’s most powerful computers for the Met Office in Exeter. Bailey also completed the UK’s largest commercial Passivhaus building for University of Leicester, and a major infrastructure contract at Belfast Waterfront to equip the entertainment and conference venue with smart building connectivity.

from Construction Enquirer http://www.constructionenquirer.com/2017/07/05/n-g-bailey-breaks-through-500m-revenue/

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