2008 Annual Report
In my first period as Chairman, it is my pleasure to report on a year of record underlying financial performance and major strategic development for the Company.
In 2008, we have produced higher revenues and underlying profits, a robust balance sheet, good order recruitment and have created new opportunities outside of the UK, for both the short and long term.
Importantly, the Company has moved its focus sufficiently early into those sectors of the UK that have been expanding and has also targeted overseas markets, to counteract the anticipated fall in demand in some of the major, traditional UK segments.
The integration of Fisher Engineering, acquired in October 2007, has been very successful.
Despite the decline of the markets in Ireland, Fisher Engineering remains competitive and busy and it has made a significant contribution to the Company’s overall results, including UK market share advantage development.
The Company is positioning itself to face the challenges of the short term and to take advantage of its strategically strengthened position when economic conditions improve.
Toby Hayward
Chairman
