Refurb outfit Novus delivers record sales of £156m

Aaron Morby 5 years ago
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Maintenance specialist Novus Property Solutions has delivered five years of unbroken growth with record sales last year of £156m.

Alan Nixon is investing in digital systems for clients
Alan Nixon is investing in digital systems for clients

The Stoke on Trent headquartered business was one of three spun out of the Seddon Group six years ago with Stuart Seddon taking the role as chairman.

Since then Novus has achieved steady growth, delivering pre-tax profit of £5.5m in 2018. Last year it also ranked among the top five fastest payers to its supply chain with an average of only 26 days against an industry average of 43 days.

Now five months into its current financial year, Novus is targeting further sustainable growth and reported that 90% of its 2019 turnover target is already bagged.

In February 2019, the firm named Seddon veteran Alan Nixon as its new chief executive officer.

Nixon said: “In a market beset with uncertainty, we had another year to be proud of.

“We grew revenues and profits sustainably as we achieved our business plan, while significantly strengthening our balance sheet so that we can continue to invest in innovation this year and over the long-term.”

The business employs over 1,000 staff from 27 locations across the UK.

It has earmarked £2m of its profits to support new investment in 2019. Planned projects include several digital transformation initiatives.

Novus is developing solutions that will integrate its IT systems with its clients’ estate management software and property databases and automate internal processes.

 

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