Financial Performance
Since the Management buy-out in 1992, the Thomas Vale group has grown from a small construction company to a major Midlands Construction Group, resulting in an annual turnover of £200million and an estimated forward workload in excess of £400million over the next 4 to 5 years.
Thomas Vale, the Midlands and Thames Valley based construction company, which operate from regional offices in Worcestershire, Birmingham, Stoke on Trent, Wolverhampton, Reading and Staffordshire, has announced record results for the year ending 31st March 2008.
Turnover during the year increased by 27% to £195million with profit before tax of £3million. The company had a positive net bank balance at the year end of £9.2million (last year £5.5million).
Mike Wallis, Chairman, added: “Strategic actions put in place in 2007 have put the Group in excellent shape with increased turnover resulting from our framework and partnership contracts with no exposure to speculative development. In addition, the business has achieved good levels of profitability and strengthened balance sheet at the year end. Over the last 5 years the business has grown annually by an average of 26%. Our order book is a record level of £500million and we expect to continue that growth in the future. Such strong year end results provide a solid foundation for organic growth in our core business areas in Social Housing, Decent Homes, Education, Healthcare and Infrastructure.”
Tony Hyde, Managing Director added: “The business is very different to many in the sector and over the last decade we have established an enviable reputation for consistently delivering on our Clients projects and exceeding their aspirations in respect of cost, quality, time and safety. The business today employs directly over 830 people and they are professional, exceptionally well trained and committed.
Thomas Vale is at the forefront of many changes in respect of Partnering and Best Practice and I only see that accelerating as clients demand more. This is an excellent result and everyone associated with Thomas Vale should be congratulated for their performance throughout the year.”
Board of Directors