NG Bailey's IT Services division reports record sales

NG Bailey's IT Services division has racked up record sales for the second year running.

It's annual results to 24th February 2017 show a £76m hike in sales, up 27% on 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 rose from £408m to £500m and operating profits grew 100%, from £6m to £12m. The Group's forward order book rose by 10% to £902m.

The group attributes much of this growth to a diversification strategy that has seen NG Bailey move from a reliance on building construction to having a balanced portfolio across services (IT and facilities management), large scale engineering construction projects and traditional building construction.

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, 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."

NG Bailey is investing £3m a year in staff training and development, and over the past 12 months has more than doubled the range of qualifications available in its apprenticeship programme.

Chairman Kevin Whiteman 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."

 


Luminet on track top hit 2017 reseller recruitment target?
Luminet is well on the way to achieving its 2017 target of signing up 400 partners having already on-boarded 140 resellers following the recent launch of its partner programme and automated portal, a move that refocused its strategy on market execution.

Luminet owns its own core and wireless 400 sqkm London network and has heavily invested in infrastructure, transforming itself from a wireless business broadband ISP to an intelligent managed services provider.

The firm's average revenue growth rate is 24% per annum and EBITDA has grown 16% year-on-year to circa £1.1m.

CEO Sasha Williamson stated: "Having already agreed 140 partnerships, with many more in progress, we are well on the way to hitting our target.

"With our connectivity and compute products and our partners' expertise, we have a surefire recipe for success that will enable us to have our best year to date."

Earlier this month Luminet sold its 28GHz spectrum license to Arqiva to sharpen its focus on wholesale, intelligent connectivity and computing services.

Luminet has become one of the first registered partners of the Connect Westminster Scheme, the newly launched Connected Voucher Scheme in that helps cover up to £2,000 towards an SMEs one-off connection charge within Westminster and the West End Partnership area.

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