Market Diversification Is Key: BMT Secures Another Solid Performance
BMT Group Ltd, the international design, engineering and risk management consultancy, announced today that it has achieved robust financial results, despite another year of challenging economic conditions across much of the world. Revenues from continuing businesses rose 8% to £127m and underlying operating profits remained unchanged at £6.5m in the year to 30 September 2011, £5.1m of which has been distributed to the staff through the company's profit share schemes.
Comprising 21 operating companies, the BMT group has successfully focused on its core maritime offering in the organisation's three sectors of defence, energy & environment and transport. Highlights included the acquisition of JFA Consultants, a port and harbour engineering specialist based in Western Australia; successful contract win for the Royal Navy's Military Afloat Reach and Sustainability (MARS) Tanker programme; delivery of Environmental and Facilities Monitoring Systems (EFMS) for two of Chevron's new platforms scheduled for the Gulf of Mexico and the completion of a strategic master plan, covering the economic, technical and financial aspects for optimising the development of Weifang Port, located in the Shandong Province, East China.
BMT has also opened new offices in Indonesia and Kazakhstan to support and grow the organisation's core businesses located in these regions and acquired a minority stake in Brazilian company, Navegação e Controle Ltda (Navcon), providing further access to offshore oil and gas opportunities in the Santos Basin, off the coast of Brazil.
Peter French, Chief Executive of BMT Group Ltd said: "Our strategy of maintaining a diversified portfolio of businesses has continued to provide resilience in the face of challenging economic conditions. That we continue to hold our own in such a tough climate is a testament to our strength and ability to provide valued solutions, at whatever stage in the economic cycle.
Some improvements are beginning to be seen in the wider economy and, with a strong order book and demand picking up in a number of key markets, we believe we are well positioned for the year ahead."
This year, BMT also celebrated being recognised in the prestigious UK Sunday Times '100 Best Companies to Work For' list.
Anne Segall, Director of HR, Development & Training for BMT Group Ltd commented: "As an Employee Benefit Trust (EBT), we place a high importance on staff engagement. During the year we took a number of steps to ensure that all employees were made aware of the development opportunities available to them and were able to easily access the necessary support. By doing so, we aim not only to attract, retain and develop the best people, but also to ensure that as a company we have the right talent, skills and competencies in place to create a sustainable, successful future for BMT."