NG Bailey IT Services returns to growth

Parent company NG Bailey says measures it put in place during the construction-industry downturn are paying dividends as networking and cabling arm sees sales soar to £76m

Cisco Gold partner NG Bailey IT Services has recorded a 27 per cent leap in annual revenues.

Having seen sales plateau last year, the networking and cabling specialist saw revenues power up from £60m to £76m in its financial year ending 24 February 2017.

That echoes a 23 per cent rise in the total annual sales haul of parent company NG Bailey, which bills itself as the UK's largest independent engineering, IT and facilities services company. It doubled operating profits to £12m on revenues that rose from £408m to £500m.

NG Bailey chief executive David Hurcomb said the results vindicate the strategy the firm put in place six years ago when the construction industry was in the doldrums, but added that the company "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," he said.

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."