West Yorkshire-based NG Bailey, the family-owned engineering, IT and facilities services firm, said its sales increased 23% to £500 million and operating profit doubled from £6 million to £12 million in the year to February 24.
NG Bailey said the group’s forward order book rose 10% to £902 million.
“The group’s strong performance reflects 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,” said the firm.
The group’s projects include mechanical and electrical (M&E) services at London Bridge, the UK’s largest commercial Passivhaus building at the University of Leicester, and a major infrastructure contract at Belfast Waterfront.
NG Bailey CEO David 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 …
“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.
“As family owned company, our independence provides us with the freedom to strategically reinvest our profits in areas that support future growth and enable us to be a sustainable business.
“Our success has been built on a platform of industry-leading expertise and exceptional customer service delivery, and that will remain our focus over the next 12 months and beyond.”
Kevin Whiteman, chairman of NG Bailey, added: “Our financial strength, with no third party borrowings and net assets of £124 million, allows us to invest for growth and to support the development of our people.
“We also recognise the opportunity, as a responsible business, to positively impact all our stakeholders, including almost 3,000 employees.”