03/08/09 - Hard work & dedication secures Thomas Vale Group’s leading position

We are proud to announce that the Thomas Vale Group has produced results in 2008/2009 which provide an excellent foundation for the business. These results are a milestone in the development of Thomas Vale. Against a very troubling economic background they serve to demonstrate the underlying financial strength of the business. This will give clients the confidence that Thomas Vale has the ability to deliver projects successfully when many in the Construction Industry face a real challenge to survive.

Turnover for the year was up by 10% on 2008 to £214million (2008 £195million) with profits of £3.32million (2008 £2.9million). Our year end cash balances were £12.2million (2008 £9.3million) and we have zero borrowings. Our current order book of some £550m underpins our future volumes of exciting new projects.Geographically whilst the majority of our work is in the wider Midlands, we have extended our spread to Manchester, London and most recently the Isle of Wight for various “Blue-chip” clients in both the public and private sectors.2009 is one of some significance to the company in that it is our 140th anniversary. Since those early beginnings and having changed form a number of times, we have grown to operate from 14 offices across the Region and every day we have 60-70 projects on site with 830 employed staff and some 2,500 other operatives working for us.Our success over the past decade has been brought about by the skill and dedication of our Management and employees with the company carving out a real niche which has been strengthened by a unique focus on clients by working Owner Directors who take a personal, hands on approach to our business. This is greatly valued by our customers.There is little doubt that the years 2009 to 2011 will be very difficult for the UK economy and for the Construction Industry. We continue to focus on cash management, pushing for efficiencies in our business and the supply chains to ensure our competitive edge is maintained and that our clients continue to get value for money. With our solid financial foundations and the quality of employees, I am confident that we will deliver for our clients and further improve our business.I would like to take this opportunity to thank each and every one of you for your hard work and dedication in ensuring that during this difficult time, the business is kept profitable, strong and above all, has not lost the ethos of what Thomas Vale is all about. It is your commitment, loyalty and individual passion which sets us apart from the rest.

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