10th October 2005
EIC has announced a forward order book in excess of £30 million going into 2006 as it continues on course to achieve its projected annual turnover of £65 million by December 2005. The company, which carries out projects across the retail, leisure, health, education and commercial sectors, has seen a majority of leisure and education contracts amongst its forward orders, showing a marked change from recent years when retail projects accounted for most of the company's business.
The mechanical and electrical specialist has demonstrated year on year growth since its launch almost 35 years ago. Last year saw pre-tax profits increase by over 100% to almost £1 million, rising from approximately £380, 000 the previous year.
Finance director, Graham Lyall identifies strategic changes that may be key to the rise in profits: "Over the last four years we've targeted and reduced our overall client base, focusing on securing larger contracts for more of the recognised blue chip names. Although the industry is beginning to experience a general moving away from long-term framework agreements, we have established strong on-going relationships based on the quality of our work and service delivery.
"Our regional offices have gone from strength to strength with both the South West and Northern offices coming in above their annual target budgets. In 2006, we expect the same from our Southern office as it has amassed the largest forward order book of all the regions, thanks to a surge in contracts from the education sector. We've adapted our procurement methods and made significant appointments to support these regional teams and ensure ongoing success."
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EIC Ltd provides project management, design, supply, installation, testing, commissioning and maintenance of electrical, mechanical control and data management systems to a wide range of blue chip clients. The company has a successful track record of partnering with major contractors such as AMEC, HBG, Taylor Woodrow, Carillion and Willmott Dixon, as well as carrying out a broad range of services for many High Street names and leisure groups including Debenhams, John Lewis Partnership, Tesco, Sainsbury's, Virgin, Primark, Littlewoods, Gap, Bhs, Co-op, ATS, Mitchells & Butler, Firmdale Hotels and the Hilton Group. EIC also works extensively throughout the health, education and commercial sectors. For further information log on to http://www.eicltd.com or call 01789 269408.
Press contact: Elizabeth Swain @ Bell Pottinger North