Haymills achieves increased profits by improving project delivery times

Timely project delivery is resulting in increased profits for Haymills, the construction group operating in London and East Anglia, according to Julian Brandon, managing director.

“We are delivering projects to clients nearer to on-time than the industry norm and it's amazing how this achievement turns into profit,” he said. “We've done it regularly in our operations in East Anglia, but now it's starting to appear in London and the South.”

Haymills’ latest annual accounts (12 months to 31 March 2006) show turnover unchanged at £105m with pre-tax profit rising to £1.6m (previous year’s figure: £500,000).

“That's a significant improvement and it shows we are on track,” said Brandon, who led a management buy out of the business two years ago. “It's a record profit, which is pleasing, but it could have been better.”

“Turnover was a bit of a disappointment but it was the result of a number of projects not getting started. They've been moved back and in the next financial period we will see two year's growth in one. I'm anticipating turnover jumping to £130m next time round.”

A new initiative, Special Projects in Gibraltar (SPiG) has made good progress, winning an £8m MoD hospital and projects for OEM, a developer, worth a total of £25m.

“Dew disappeared from Gibraltar some time ago,” said Brandon. “It's hard getting productivity up in Gibraltar. We're bringing in a lot of east Europeans as the Spanish are too busy working in Spain.”