MDA HOLDINGS LTD
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ANNUAL REPORT 2017
Chairman’s Statement
4
Performance
I am pleased to present our annual report for 2017, which I am
delighted to say shows we have performed strongly against both our
financial and operational targets with growth in both turnover and profit
for MDA. Coming as it does on top of last year’s excellent performance,
it demonstrates that the board and management have worked hard to
put in place a clear strategy to continue to win profitable business whilst
maintaining excellent professional relationships with all our clients.
I would like to acknowledge the work done by Geoff Potton who stood
down as non-executive Chairman in March 2017 after 8 years. Since
my appointment in April 2017 it has become clear to me that his input
has been invaluable to the board during his time and on behalf of the
board, I would like to thank him for his involvement.
Challenges
Each year brings its own set of challenges and opportunities. Ironically,
in reviewing last year’s annual report, it would seem very little has
changed in the wider business environment. There is still a great deal
of uncertainty with regard to Brexit and all that it entails both during
and after the transition phase. The skills shortage particularly across
construction continues to be an issue and it is hard to see it improving
after Brexit. The potential for rising base rates and consumer debt
could also impact on investor demand and return. The consensus for
predictions on construction industry growth would seem to be around
1.7% for 2018. Conversely, with 2017 seeing UK unemployment falling
to its lowest level since 1975 and with the current global economic
recovery, these can both be seen as indicators for optimism in 2018. I
am confident that the board and management team are structured and
resourced appropriately to meet these challenges and create the right
environment within MDA for further sustainable growth.
People
Our exceptional team of people were fundamental to the delivery of
these results. We have continued to recruit graduates as well as
intermediate and senior staff and have also promoted Richard Hall and
Kester Mein to Director, as well as Chris Lester to Associate Director
and Lettice Swan to Associate. The promotions are both in recognition
of the excellent work done by these individuals to date and also part of
our wider strategy to ensure there are new ideas and ways of thinking
introduced at all levels of the company. The appointment of Steve Udall
early in 2017 to head up the CDM consultancy services division has
further strengthened our management team and helped expand our
client offering. During 2017 the board have also extended the share
purchase scheme which has proved extremely popular and effective
in getting our people to feel even more engaged in the performance of
the business.
Strategy
Our strategy to build on existing strong relationships whilst ensuring
we always deliver a first class service to our clients has been the
cornerstone of the business for a number of years. The board and
business development team continue to look at new areas for growth
both organically and by selective acquisition. A fundamental part of
the MDA offering has been to always ensure we have a director led
client service. We believe it has been and will continue to be, a real
value differentiator when seen against larger corporate offerings. Our
profile on social media has continued to grow and has proved to be a
valuable aspect of our overall marketing strategy. In conjunction with
the many and varied events and activities our business development
team run throughout the year, I believe we have established a coherent
and effective marketing plan which aligns extremely well with our
business goals.
Outlook
In what is undoubtedly a very difficult economic outlook to predict, with
increasing complexity and challenges, I believe we have in place both
the financial and human resources to capitalise on the year ahead. I
have personally really enjoyed working with all the very talented and
dedicated people that make up MDA and I am very confident we will
meet our targets and continue to grow.
