MDA HOLDINGS LTD
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ANNUAL REPORT 2016
Chairman’s Statement
5
Performance
I am pleased to report that 2016 has been another excellent year for
MDA building upon last year’s much improved performance. This
resulted from sustained demand for our services across all our sectors,
benefits from previous cost-control measures and the continuing and
dedicated performance of our staff, all of which delivered an increased
turnover and profitability. The management team continues to monitor
overhead costs whilst balancing the needs of the business going
forward.
The strong financial results are the outcome of much hard work by
all the team and I would like to thank them for their commitment,
professionalism, and enthusiasm over the past year. I am confident that
the company will continue to grow its reputation and further improve its
financial results in the coming year.
Wider Environment
Since my last statement much has changed on the political front both at
home and overseas, all of which creates a degree of uncertainty going
forward and makes forecasting perilous.
The UK construction industry faces some short-term challenges
of Brexit-induced inflation and possible uncertainty from potential
investors as well as a continuing skills shortage. However, on a positive
note the Government has placed both housing and infrastructure at the
top of their political agenda which will bring opportunities for us, both
from new and our existing client base. One of our mainstay sectors,
private-sector housing, continues to flourish although the luxury
market, particularly in the south east, has slowed mainly in the wake of
increased stamp duty. Various forecasts predict real growth within the
UK construction sector of up to 10% over the next four years providing
us with an ideal opportunity to continue our current rate of expansion.
Strategy
Our approach in recent years, of building on existing strong professional
relationships, has proved both effective and rewarding and will therefore
continue to be at the heart of what we do, whilst acknowledging our
strategy of not being over exposed to any one sector by ensuring a
balanced portfolio. We continue with the ambition to increase our UK
coverage both organically and by selective acquisitions as and when
the right opportunities present themselves.
People
The largest asset of the company is our staff, with the wealth of
experience, dedication and knowledge that they bring. There have
been some changes in the composition of the management team over
the last twelve months most notably the well-deserved retirement of
Mike Jewell after 43 years loyal service, we wish him a happy and long
retirement.
Once again this year we have seen a strong intake of graduates, who
have been attracted to us by both the enthusiasm of the recruiting team
and the opportunities open to them for progression. They of course
represent an investment in the future of the company and we wish them
well.
There is no doubt that both our public and professional profiles have
been greatly enhanced over the last twelve months with an increased,
well targeted, use of social media as well as other more traditional
marketing activities. I would like to acknowledge the business
development and marketing team for all their dedication and hard work.
Outlook
The economic outlook if anything is uncertain with professional
forecasters and commentators alike being at odds with each other, but
as I said previously the construction industry at large in its various guises
seems to be high on the political agenda making us well placed to take
full advantage of any suitable opportunities.
Given the continued strengthening of the balance sheet, financial
performance and human resources in the company over the past year,
we find ourselves well placed to face the opportunities and challenges
of the year ahead.
