11th July 2006
On Target For Record 2006 At The Half Year
2006 looks set to be a record year for national mechanical and electrical specialist, EIC, as the company reaches its half-year with 87% of its £72 million turnover target in the bag.
After a year of investment and consolidation in 2005, during which the company recorded a dip in profits of 30% on the previous, record-breaking performance in 2004, EIC believes that the stage is set for its best year yet.
So much so, in fact, that it is investing over £2 million in a prestigious new, national headquarters in Alcester, just 8 miles from its current location in Stratford-upon-Avon.
Commenting on the company's performance to date, financial director Graham Lyall said: "EIC is a company with a long history and pedigree and we understand that we have to invest in the future in order to drive the company forward. We have always been strong in the retail sector, but have deliberately diversified our service offering over recent years so that we could enter new markets, such as education, health and leisure. 2005 was all about these new market sectors and establishing a reputation that we could build on. As a consequence, while we reported a dip in pre-tax profits, although our turnover was up by 2%.
"This year is already showing signs of strong growth, with turnover up by between 15% and 30% in all sectors. Our patience has paid off, with the education sector proving particularly buoyant. As a consequence - and to demonstrate our confidence in continued growth going forward - we have just acquired a 2.5 acre site in Alcester, for our new integrated headquarters."
A privately owned company still in the hands of the original founding families, EIC has built an impressive reputation for mechanical and electrical engineering contracts in large-scale retail, commercial, educational and leisure developments across the UK. With a network of regional offices which extends from Edinburgh in the North to Plymouth in the South, its national capability is matched by a strong regional focus and locally based management team.
EIC has been in its present head office building in Stratford since the 1970s, purchasing an additional operational site in nearby Wilmcote to accommodate its growing Test & Maintenance business back in the early 1990's. The move to the new Alcester site will provide an opportunity for both teams to be combined in a single integrated operation.
"This is a major move for the company," adds Graham, "and a clear indication of our commitment to the future expansion of the business. By bringing both operations together, we hope to achieve greater synergy between our various areas of expertise, maximise our multi-disciplinary teamworking and further improve our service to customers."
For further information on the range of service available from EIC, please visit the website www.eicltd.com
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EIC 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 working collaboratively with all members of a project team, providing innovative, sustainable solutions and best whole life value. For further information log on to www.eicltd.com or call 01789 269408.
Press contact: Deborah Garritty/Elizabeth Swain @ Bell Pottinger North