I am pleased to report yet another successful year for the Pacy and Wheatley Group with all divisions performing well.

We started the fiscal year with a strong order book, and it has been reassuring to see our existing clients remaining confident in the market place despite the obvious business anxiety surrounding Brexit. Overall orders have been affected by Brexit which has resulted in delayed orders and consequential reduced revenues for this accounting period..

Group Revenues £14,140,748 (-7.3%)

Balance Sheet £1,669,051 (+29.8%)

re-Tax profit of £792,487 (-1.89%)

Whilst the overall profit was nominally lower than last year, our pre-tax profit ratio increased by 0.32%. Going forwards, I expect that additional operational efficiencies will continue to drive improved gross and net profits across all divisions.

Pleasingly, our meticulously planned head office relocation, driven by our expanding team, happened over Nov/Dev 2018. Our new premises has delivered an exciting and modern working environment, that has also allowed additional investment in our IT and communications and project planning software systems.

It is nice to be recognised, and to that end, the Pacy & Wheatley Group was enormously proud to be in the Top Ten for Yorkshire’s Fastest 50 Growing Companies. Coupled with this, Barchester Healthcare have also announced Pacy and Wheatley as their ‘Contractor of the Year’.

Operationally, the management and divisional restructure throughout 2016/17, has been immensely beneficial and has increased the confidence of our workforce and supply chain. As a result, the value to our Framework Partnerships, Yorbuild, Re:allies and Barchester Healthcare has been significantly increased, underlining our focus on repeat business. Of course, health and safety remains as a core improvement objective, and this allows continuous improvements for the overall safety and wellbeing all our workforce. Our 50th year anniversary celebrations have truly been a year to remember, and we enjoyed seeing many of our long standing supply chain partners enjoy some yachting at Cowes or horse racing at Aintree as well as other events we held throughout the year. I am extremely appreciative, and thank all of our team and supply chain partners. Collectively, they have enabled the group to achieve improved performance results in many key areas.

Finally, our very healthy 2019 advance order books look set to move the groups business forwards once again, and I’m positive that I’ll be reporting good news for 2019.

Dave Wheatley
Chairman | Pacy and Wheatley | Modern Methods of Construction.

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