Ian Williams continues to build on a solid financial performance:
We are shortly to publish our audited accounts for the year ending 3 November 2019. Net profit increased significantly to £3.2m (£0.7m in 2018) returning to more normal historic averages after the completion of two large legacy contracts.
Andy Havard, managing director, comments: “2019 has been a year of investment especially for our people and the way we do things. This has resulted in improved efficiency and consistency driven by empowerment, process improvement and technology. Although the outbreak of COVID-19 has had a considerable impact on our employees and customers this year the steps we took in 2019 means we are in a great position to return from this unprecedented event even stronger.”
Turnover for the period was flat at £81.2m (£82.4m in 2018). The organisation focused on improving its productivity and efficiency resulting in an increase in gross margin. The total order book rose to over 4 times revenue and equity levels were strong at £10.3m.
During 2019 the company completed its first employee Net Promoter Score (eNPS) achieving +26 reflecting high levels of satisfaction and an industry leading performance. This also aligned with high levels of customer satisfaction (NPS of +44).
Investment in Apprentices, via its Academy, led to further awards for its training in particular the CITB Great Britain Apprentice of the Year Award.
The continued investment in safe and great places to work led to a 11th ROSPA Gold Award and a 2nd President’s Award for health & safety. The company also made significant investments in technology and the creation of a ‘connected business’ that were put to the ultimate test during the recent pandemic. The organisation has also increased its operating footprint with further expansion in Manchester and Leeds.
Community investment from its Foundation continued to increase with the funding of over 70 employee led projects including the complete refurbishment of Southwold House, Bristol, for young homeless people.