MDA HOLDINGS LTD
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ANNUAL REPORT 2016
Managing Director’s
Report
6
Financial Review
I am pleased to report another encouraging performance and
improvement on the previous year.
A 9.6% increase in turnover to £5,127,000 (2015: £4,680,000),
coupled with sensible policies and controls resulted in an increase
in pre-tax profit of 32.4% to £388,000 (2015: £293,000). There were
some exceptional costs in the UK (recruitment fees, redundancy
and the establishment of a new Manchester office) and in the Czech
Republic (depreciation of a motor vehicle).
The consolidated balance sheet strengthened to £1,315,000 (2015:
£1,222,000).
The directors recommend a dividend of £2 per ordinary share
(£53,070) (2015: Nil).
Operational Review
Residential
In the UK, this continued to be an important sector for us particularly
in London and the South East of England where we secured a good
volume of commissions in both the public and private sectors.
In the public sector via our existing framework agreements we were
appointed on a number of high-profile projects including by London
& Quadrant (L&Q) to provide employer’s agent and cost consulting
services on their Caledonian Road scheme in London and by
Shepherds Bush Housing Association to provide the same services
on their scheme, The Vale in Acton, London. In the private sector
we were appointed by Hadley Property Group to provide project
management and cost consulting services on their iconic Chelsea
Island scheme.
During the year there was recognition for Pembury Circus in London, a
project we completed for Bellway Homes in late 2015 and which was
shortlisted for residential scheme of the decade by Property Week
magazine. There was an increase in the number of bank monitoring
commissions secured in the sector. During the reporting period we
acted for fourteen different banks/funding institutions including the
four main high-street lenders.
Our Prague office is working on a villa in Monaco for a private client
and an alpine residential scheme in Verbier, Switzerland, also for a
private client. Both are due for completion in 2017.
Student Accommodation and Care Homes
Our Leicester office in the UK continues to win a significant number
of student accommodation schemes, currently we have twelve at
various stages of development, concentrated mainly around the
Midlands but also with sites in Edinburgh, Sheffield and Portsmouth.
We are providing cost consulting and employer’s agent services on
three important care home projects, all of which are being serviced
via our Midlands offices.
The London office is continuing to assist HSBC on a number of
care home schemes in the South East, primarily around the Home
Counties.
Hotels
We secured our first commission at the prestigious Grove Hotel in
Hertfordshire during the summer.
Our live schemes with Ability Developments Ltd are either on site or
about to commence. During the year we also carried out a number of
feasibility studies for Ability and we are confident there will be further
appointments during 2017.
Our Citizen M scheme for HSBC in Paris commenced on site during
the year. We also secured a number of other monitoring commissions
in the sector for RBS and Barclays.
Our Bristol office continued to work on the new 4 star scheme for
Apex Hotels in Bath city centre which is due for completion late
Summer 2017.
Commercial and Retail
In the UK our London office secured a number of important
commissions during the year including:
– Cost consultancy services on the reorganisation of the Treasury
Building in Whitehall for HMRC.
– Cost consultancy on an improvement scheme for a confidential
client in the legal sector.
– Employer’s agent and cost consultant on the redevelopment of
The Oaks Shopping Centre in Acton for Reef Estates and Oaks
Dev Co.
