Revenue also flew up 23% taking the firm to £500m for the first time, while the M&E specialist’s forward order book rose by 10% to £902m.
David Hurcomb, chief executive of NG Bailey, said the strong performance reflected the continuing success of its diversification strategy.
This saw NG Bailey shift from relying on building construction to a more balanced portfolio across IT and facilities management and large-scale engineering construction projects.
Sales across all its engineering and services divisions increased during the year.
Hurcomb said: “Our operating performance over the past year shows the strategy we put in place six years ago was the right one.
“We cannot afford to be complacent. Each of our key divisions performed strongly over the past year, but we are operating in what is still a challenging environment for our industry, and with a backdrop of continuing political and economic uncertainty.”
Kevin Whiteman, chairman of NG Bailey, added: “Our financial strength, with no third party borrowings and net assets of £124m, allows us to invest for growth and to support the development of our people.”
He said the specialist was presently investing £3m a year in the training and development of its people.
Key project successes in 2016
The group’s innovative projects include M&E services at London Bridge, featuring the UK’s most advanced rail control centre. It also carried out the MEP on the installation of one of the world’s most powerful computers for the Met Office in Exeter. Bailey also completed the UK’s largest commercial Passivhaus building for University of Leicester, and a major infrastructure contract at Belfast Waterfront to equip the entertainment and conference venue with smart building connectivity.
