Strong financial performance for NG Bailey

Strong financial performance for NG Bailey

NG Bailey, an independent engineering and services group headquartered in Ilkley, has reported a 16% increase in turnover to £556 million.

For the year ended 1 March 2019, the group also reported an increase in underlying operating profit from £13.7 million to £19.4 million.

The company attributes its successful financial performance to its acquisition of Freedom in March 2018.

The move has allowed it to expand its engineering and maintenance services across major infrastructure portfolios.

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

NG Bailey also has a strong pipeline of work, with its future order book growing to £1.4 billion from £1 billion in 2017/18.

“We have continued to deliver against our five-year strategy to achieve a balance in the business across our Engineering and Services divisions,” said Chief Executive David Hurcomb.

“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.”