BW Workplace Experts has released its financial results for the year ended 31 December 2017. The Company posted annual turnover of £150.9m, an increase of 50% from the previous year, and operating profit for the financial year of £4.1m, up 110%.
“We’re thrilled to report BW’s best year ever, our second year of double-digit turnover growth,”said Steve Elliott, BW’s chief executive. “Our 2017 results were driven by our continued focus on defect free projects, growth in sales outside of London and an increase in directly negotiated workload. We are very excited about our current projects and those in the pipeline for the next twelve months.”
“Our strong business performance drove turnover growth in both refurbishment and fit out projects, net assets of £13.8m, and cash at bank of £10.8m, “said Andrew Bradley, BW’s Financial Director. “We completed a successful management buy-out of the share capital from the shareholding of the two founders. We started our 2018 financial year with our strongest order book and anticipate turnover of between £190m and £200m with continued improvement in gross margin.”