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Norse sees its order book grow by almost £100m

Norse Group has announced it is set to add almost £100 million of new business forward orders in its current financial year.

Orders include a new 10-year partnership deal with Daventry District Council. Due to commence on 4 June 2018, the contract is worth around £60 million over the agreement term.

The company puts the growth down to consistently winning large commercial contracts, and to proven results leading to councils adding additional services to the local authority partnerships’ portfolios.

To date new contracts for 2017/18 represent an annual turnover value of over £17 million, which the company says will top £18 million by the time its current financial year finishes at the end of March.

Projected total annual figure for new business equates to a forward order book value of around £100 million, taking the company’s total forward orders to more than £2 billion of sustainable business.

Sales Director, Geoff Tucker, commented: “Our operating divisions, which are mainly based in Norfolk and Suffolk, have had the best year in the company’s history in terms of winning contracts,. Our current partnerships with local authorities around the country have also generated significant new business, providing additional vital revenue for council partners to the benefit of the local communities.”

“Our catering division in particular has seen impressive gains, recently winning eight major education catering contracts in Norfolk and Suffolk, with an average forward order value of £175,000.

“But the cleaning, security, grounds, building maintenance and facilities management divisions have all added substantial revenue. The Local Authority Partnerships are taking on an increasing amount of work from their council partners, in addition to winning significant new private sector business in their areas.”

Norse expects to see turnover exceed £300 million for the year ending 31 March 2018.

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