Major £550m turnover for West Yorkshire engineering and services group
Ilkley-based NG Bailey has revealed a 16 per cent turnover increase to £556m.
This follows an underlying operating profit increasing from £13.7m to £19.4m for 12 months to March 1, 2019.
NG Bailey attributes its financial performance to the acquisition of Freedom - a technical engineering and maintenance services group - in March 2018.
NG Bailey’s order book could also potentially grow to £1.4bn from £1bn in 2017/18.
In the past year, the company has worked on contracts including North Tees and Hartlepool NHS Foundation Trust Hospital; the Northern Line Extension Project; Sheffield-based development Grosvenor House, and the redevelopment of London Bridge Station.
David Hurcomb, chief executive of NG Bailey, said: “We have continued to deliver against our five-year strategy to achieve a balance in the business across our engineering and services divisions.
“The success of this plan is reflected in a strong operating performance that has continued to improve year-on-year.
“Our acquisition of Freedom has been key in allowing us to expand our capabilities in sectors including defence and airports, as well as establishing a new presence in the electricity distribution network market.
“We have also gained a wealth of new knowledge and experience from the talented members of Freedom who have now joined the NG Bailey Group.”
Other services contracts include securing a place on Yorkshire Water’s high voltage electrical design and maintenance framework.
NG Bailey will also continue working on contracts for Wood Wharf, the new mixed-use extension to Canary Wharf, and the Manchester Engineering Campus Development.
David added: “All businesses in the construction sector are operating in a challenging environment, but we believe our solid financial position, and our continued investment in our people, puts us in a good position to weather any future economic uncertainty.”
Do you want to sell more to businesses in your region? Get Bdaily Marketing's latest Media Pack now to see how we can help →