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Good news for some but M&E struggles continue

Balfour Beatty Engineering Services has retained its top position in the annual league table of M&E firms in the UK, following a
solid year when turnover grew by £120 million, to end the 2009 financial year at £690m.

Balfour Beatty does not disclose its profits for its engineering services division.

Its revenue is significantly ahead of second place Southern Electric Contracting, which saw a decline of £22m in its turnover to £460m during the year.

Bailey has been the biggest loser over the past year in terms of revenue declines. It blamed the tough economic climate for the fall in its turnover, but despite this it managed to increase its profits significantly.

The company’s pre-tax profit increased to £18.2m during the year ending 27 February, compared with £6.6m a year earlier.

Over the past 12 months, the financial performance of those operating in the sector has varied considerably.

There is one notable absentee from the top 10 league table this year, T Clarke.

It narrowly missed out on 10th place after its revenue fell by £43m in the financial year ended 31 December 2009, finishing the year at £177.6m.

Rotary reappeared in the top 10 following completion of its takeover by the Australian Hastie Group. There was a change to its financial year-end, which meant there were no comparable figures for the league table last year.

M&E specialists appear to be a lagging indicator of the sector’s fortunes, given their exposure to the back end of the construction cycle, and many firms could suffer for some time to come.

 

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