DIVERSIFYING its operations, securing £500 million of new work and controlling costs ensured a strong performance for Ilkley-based NG Bailey last year.

The engineering, IT and facilities services group tripled operating profits in the year to February 26 to £6 million and increased sales by 12 per cent to £408 million. Its secured order book rose by 14 per cent to a record £673 million.

NG Bailey said its financial position was “solid” with net assets of £116 million, cash and investments of more than £75 million and no third party borrowings,

New work included significant contracts with Land Securities and a five-year contract worth more than £50 million with Fujitsu to support its work transforming the delivery of information and communications technology across the Ministry of Defence.

Bailey It was also appointed a preferred bidder on a number of schemes, including for electrical work in a joint venture with Balfour Beatty on the delayed Hinkley Point C nuclear power station.

NG Bailey also invested £2 million in energy management and smart buildings and continued its annual £3million investment in training and development of employees.

The number of reportable accidents fell to a 30 year low and its accident incident rate was five times below the industry average.

David Hurcomb, chief executive, said: “Five years ago we embarked on a strategy to diversify our business and achieve an equal split of work across services, infrastructure and building construction.

“Our operating performance demonstrates that our strategy has worked.

“Our focus now is to retain this split. Given our industry-leading engineering expertise and our focus on exceptional customer service delivery, I believe this is achievable.

“Our solid financial position and our ability to continue to invest in the company, puts us in a good position to weather any economic storm that may arise from the recent Brexit vote.”