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City FM Holdings sees its profits grow

City Facilities Management Holdings has reported a 33 per cent increase in group turnover to £617 million.

The company’s results show a £154 million increase from 2015, which includes a 40 per cent increase in turnover from City’s facilities management and cleaning businesses at £512 million and a nine per cent increase in project services (construction and engineering) at £105 million.

In the UK, City FM’s turnover was consistent in 2016 with growth from new customers and services offset by the reduction in turnover from a business sold in 2015.

In Australia and South East Asia, turnover grew through new business and organic growth with existing customers.

The largest area of growth for City was in the US, with the launch of services through City Facilities Management (US), headquartered in Jacksonville, Florida, and its acquisition of Baltic Trail Facilities Management.

Overall group operating profit was £15.4 million in 2016, up from £7.2 million in 2015.

Chairman of City Facilities Management Holdings Ltd, Lord Willie Haughey said: “This has been a positive year for City and not only have we seen significant growth in our business’ turnover but also organic growth within our existing customer base.

“We continue to invest significantly in new and innovative solutions for our customers and now offer world class, energy-led facilities management services across five continents globally.

“With the recent acquisition of European operations through Lesprit Limited (trading as AMF in France and MML in the UK), which is not included in our 2016 results, we are focused on continuing our growth strategy in 2017 and beyond with potential to strengthen our offering to both existing customers and new markets.”

 

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