Financial Results
The Board is pleased to report that trading in the second half of the year has continued to be encouraging and financial performance for the year is in line with its expectations. The Board is delighted with the resilient performance and thanks all our colleagues across the Group for their hard work and dedication during this most challenging of years.
The Group anticipates turnover for FY2020 to be circa
Record Order Book
Our bid teams continue to be busy. We have scaled up the size of our team to ensure that we are maintaining our careful selection criteria when assessing projects, to ensure they continue to meet our margin expectations.
Since our last Trading Update announced on
Cash Performance
We have been particularly pleased that our cash performance during the course of the year has been strong. Net cash at the year-end was
Outlook
Looking to the future,
Our growth strategy is centred on five key pillars. Maintaining a sustained 3% operating margin, expanding our revenue streams, remaining the contractor of choice for landmark projects, maintaining a balanced business and building on our long-term relationships.
The strategy we have followed has resulted in
The future for the Group looks extremely promising and we face the new year and beyond with renewed confidence that
Commenting,
'I am proud of the performance that
Our markets remain strong and we are delighted that the order book has reached a record scale and that the quality of projects that we have won is excellent and in accordance with our margin expectations.
The reputation that we enjoy with our clients remains extremely positive and this is now delivering, as they turn to us to partner with them on future projects.
I look forward to reporting on the progress that we make through the year. We continue to look to the future and we are positioning the Group to benefit from the many growth opportunities available in our markets.'
The Group will be announcing its 2020 preliminary results on
Contact:
Tel: 020 7997 7400
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