Press Release
NG Bailey IT Services has achieved record sales for the second successive year, its annual results reveal.
Figures for the period ending 24 February 2017 show that sales rose to £76m, up 27 per cent from last year’s £60m.
NG Bailey specialises in the design, supply, installation, management and maintenance of voice, data and structured cabling solutions to contracting, enterprise and public sector clients.
Group-wide figures for NG Bailey – the UK’s largest independent engineering, IT and facilities services company – rose from £408m to £500m and operating profits grew 100 per cent, from £6m to £12m. The Group’s forward order book rose by 10 per cent, to £902m.
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.
Sales across all its Engineering and Services divisions increased during the year.
David Hurcomb, Chief Executive of NG Bailey, 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. I would like to thank our great people, who have delivered this tremendous result.
“However, we cannot afford to be complacent. Each of our key divisions, including IT Services, 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 a 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.”
In addition, £3m a year is being invested in the training and development of its people, and over the past 12 months the company has more than doubled the range of qualifications available in its award-winning apprenticeship programme.
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.
“We also recognise the opportunity, as a responsible business, to positively impact all our stakeholders, including almost 3,000 employees. That is why we are committed to
environmental and social sustainability in order to build a better future for us all.”
