Pacy & Wheatley
Group Performance
The Passing of my Father, Founder and Chairman, in February of this year was a shock to everyone, both throughout the Pacy & Wheatley Group and the wider business community.
Dad’s passion for the business was still as powerful as it was 35 years ago when I first spent time working in the joiners shop during the school holidays. His guidance, leadership and character touched everyone. Enjoying his role as Company Chairman, overseeing the strategic planning of the business, and taking a great personal interest in ensuring all staff were given the opportunity to grow within the business at every level, something we want to ensure continues – as he would have wanted.
I can report positively on the Group’s performance, with the predicted covid bounce back fuelling turnover growth. However, like the wider industry, due to rising material costs, skills, and trade shortages together with sizable fixed long-term contracts ongoing, margins have been both compressed and further impacted by provisions required.
- Turnover Increased 71% to £36.6m
- Pre. Tax Profit £634,661
The outlook for the coming year is positive, with work in progress on site and new orders on hand that will see the current turnover levels maintained throughout 2023, with significant new orders secured for 2024, which is particularly pleasing given the uncertainty around investment slow down due to interest rate rises. Pipelines remain healthy across all four divisions.
We remain committed to delivery through our people’s can-do attitude, and de-risking projects in partnership with our clients and specialist supply partners.
Finally, thank you to our incredible team and supply chain, many of whom have been associated with the company for many years; without their loyalty, collective skill and experience, our success would not be possible. Thank you to our incredible team and our supply chain, many of whom have been associated with the company for many years; without their loyalty and collective skill and experience, our success would not be possible.
Finally, a thought to our founder and father; rest easy and in peace, your company, through its people, are committed to the future.
Anthony Wheatley
