Our financial performance results for 2018

Notably, as we set our sights towards the future, our growth potential and the quality of our customer relationships are evidenced by our firm order’s growth.  

We have achieved a solid year’s performance whilst also setting down the foundations for growth. We look forward to reporting further upon our progress in the coming financial year.

Commercial Shipping Highlights - The market for specialist vessels was generally buoyant, except for demand from the oil and gas sector, which only showed some upside towards the end of the year as higher energy prices supported investment.

BMT performed very strongly, with a record number of successful specialist vessel services projects in progress during the year, adding to an ever-increasing portfolio of vessels operating on the water.

Critical Infrastructure Highlights - Conditions were generally favourable in our markets during the reporting period, supported by rebounding oil prices, global GDP growth and continuing investment in infrastructure.

Rising iron ore prices and the fact that coal prices remain well above their 2016 lows helped to support market demand for our Mining and Machinery services despite environmental issues affecting approvals for new mines.

Defence and Security Highlights - We were awarded several strategically important contract wins that are typically long term. Therefore, we place the business on a solid foundation to grow across its four home defence and security markets of the UK, Australia, Canada, and the  US.

In a year, investments have also been made to broaden our international footprint with new contract awards in Thailand, the Nordics and ASEAN countries.

Environment Highlights - The environmental consulting market in our most active region, Australia, strengthened, supported by improvements in the resources sector and higher levels of government investment into major infrastructure projects.

Although project opportunities increased, as a result, the competition was intense, with new entrants keen to make their mark through strategic pricing and positioning.