PROFITS have bounded up a quarter at NG Bailey after a period of expansion at the building services contractor.
Pre-tax profits at holding company NG Bailey Organisation touched £16.8 million in the year to February 2005, up from £13.5 million.
Mark Andrews, who took over as chief executive last year and pushed through a restructuring, said: 'With the restructure and development of a fiveyear strategy we have made the first of many steps to build a more profitable business.' Turnover at the group, which employs 4,000 people in operations ranging from telecoms and M&E work to prefabrication and investment, rose to £406.6 million in 2005 from £382.3 million in 2004.
The new strategy included the purchase of business communications outfit Teswaine to boost the telecoms arm and last month NG Bailey snapped up £10 million-turnover ceilings and plasterwork contractor Johnson Brothers, to boost the group's core M&E business, NG Bailey & Co.
Martin Bailey, managing director of NG Bailey & Co, said: 'Johnson Brothers has achieved steady growth.' From Leeds, Johnson Brothers employs more than 100 people and will trade as Bailey Johnson.
The expansion was hampered by continued uncertainty over the development of the mobile phone market and Bailey Teswaine withdrew from this sector. Nimble Thompson, chairman of NG Bailey Organisation, said: 'Conditions have been tough but Mark and the new management team have taken the business forward.'