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NG BAILEY REPORTS STRONG FINANCIAL PERFORMANCE FOR 2018/19

Financial results © iStock
Financial results © iStock

13 August 2019 | Herpreet Kaur Grewal


Engineering and services group NG Bailey has reported a 16 per cent increase in turnover to £556 million, with underlying operating profit also up from £13.7 million to £19.4 million for the year ended 1 March 2019.

 

The company said it attributes its successful financial performance to its acquisition in March 2018 of Freedom, which provides technical engineering and maintenance services. The move has allowed it to expand its engineering and maintenance services across major infrastructure portfolios. 


NG Bailey’s existing business has also increased its profitability, further strengthening its position. 

 

The company has a strong pipeline of work – its future order book grew to £1.4 billion from £1 billion in 2017/18.

 

During the past year it has worked on large contracts including North Tees and Hartlepool NHS Foundation Trust Hospital, the Northern Line Extension Project, Grosvenor House – a landmark development in the heart of Sheffield city centre – and the redevelopment of London Bridge Station.

 

The company has also secured a place on Yorkshire Water’s high-voltage electrical design and maintenance framework.