BW: Workplace Experts recently released financial results

BW: Workplace Experts recently released financial results for the year ended 31 December 2017

The Company posted annual turnover of £150.9m, an increase of 50% from the previous year, and operating profit for the financial year of £4.1m, up 110% (full profit for the financial year: £7.99m).

“We’re thrilled to report BW’s best year ever, our second year of double-digit turnover growth,” said Steve Elliott, BW’s CEO.

“Our strong business performance drove turnover growth in both refurbishment and fit out projects, net assets of £13.8m, and cash at bank of £10.8m,” said Andrew Bradley, BW’s Financial Director. “We completed a successful management buy-out of the share capital from the shareholding of the two founders. We started our 2018 financial year with our strongest order book and anticipate turnover of between £190m and £200m with continued improvement in gross margin.”