BMT Reports Strong Full Year Performance
BMT Group Ltd (BMT), the international design, engineering and risk management consultancy, has announced another strong financial performance for the year to September 30, 2012. By focusing on markets where it can deliver high-value customer solutions, revenues from BMT’s continuing businesses rose 22% to £156m and underlying operating profits increased to £13.7m, a proportion of which has been distributed to the staff through the company’s profit share schemes.
David McSweeney, BMT’s Finance Director explained, “Despite challenging trading conditions, underlying operating profit margin rose from 6-9%, bringing us closer to the industry norm for companies within the high-value engineering sector. Such improvement is vital so that we can continue to re-invest in our people – both attracting and retaining the best talent - as well as our extensive R&D capability to identify future technologies and solutions which will help to address our customers’ challenges.”
Comprising 23 operating companies involved in activity across five continents, the BMT group continues to concentrate on its core maritime-focused offering in the organization’s three sectors of defense, energy and environment and transport. Highlights of the year include the acquisition of Oceanica Consulting Pty Ltd, a specialist coastal and marine environmental consulting company based in Australia; a successful contract win to provide specialist dredging consultancy services to Rio Tinto (RTNTF) in Western Australia; the delivery of weather forecasting services in the Java Sea; and the UK Ministry of Defense’s LETacCIS (Land Environment Tactical Communication and Information Systems) contract which saw BMT lead its partners in support of the early phases of this acquisition program.
BMT said it also continues to invigorate its pioneering maritime spirit and looks to create innovative solutions through its commitment to R&D and collaboration with industry and academic partners. Its recent collaborative R&D project with University College London (UCL) will research new ways to increase shipping efficiency and reduce emissions - something which remains uppermost in the minds of ship owners, operators and charterers around the world.
To help improve safety in mining, BMT is partnering with Skill Pro Services Pty Ltd in Australia to develop a new way of suppressing coal dust explosions. The company said the innovative Active Barrier technology has the potential to revolutionize safety in the mining industry and recently picked up an excellence award from ACARP (Australian Coal Association Research Program).
Peter French, BMT’s Chief Executive, said, “This year we have been able to secure a number of major projects as we further demonstrate to our customers the breadth and depth of our knowledge and technical excellence in key markets. Our independence allows us to provide impartial advice and genuinely focus our attention on helping our customers succeed. More and more we are seeing our highly skilled experts from around the group becoming part of an integrated team that works in partnership with customers, providing an opportunity to share knowledge and best practice.”