The construction company headed by former Bluebirds chairman Steve Borley has posted record results with turnover up past £80m.
For the year to 31 March 2018, Borley Engineering Services, which trades as CMB Engineering, recorded a turnover of £84.3m, up from £51m in the previous year.
The company noted that gross profit margin remained steady at 8 per cent, resulting in an operating profit of £2.61m, up from £1.23m in the year prior.
With the company’s order book also looking strong, the directors believe the company is set for more growth in the current financial year.
In a statement, Borley Engineering Services said: “FY18 sees Borley Engineering Services Ltd post its strongest set of financial results to date. We believe that this performance is attributable to our continued commitment to being a “no grief”, reliable engineering services partner. We have been able to organically increase sales revenue by 65 per cent to £84.3m and build further on FY17 growth of 39 per cent. We also hold sufficient cash reserves to emphasise to the market that the company represents a safe, appropriately capitalised partner. This has enabled us to secure large projects such as the Central Square Development (Rightacres Property Co Ltd) and the IQE semiconductor factory, both of which are still ongoing.
“Our strong performance in FY18 has also consolidated our position as the largest independent engineering services provider in South Wales. Although the company now competes on a national level throughout the UK, this is something we remain extremely proud of. We view our staff as being one of the key factors in delivering the above successes and understand that our loyal and qualified staff, who are committed to delivering value for our customers are one of our key assets. We remain committed to the development of our staff and will continue to operate under the principle of ‘train and retain’.
“Moving forward we will continue to strive for sustainable profitable growth built on the back of the same core values of excellent customer service and trust, that the company started with 25 years ago.”