MDA HOLDINGS LTD
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ANNUAL REPORT 2017
Managing Director’s
Report
6
Financial Review
I am pleased to be able to report another good year and improved set
of results to September 2017.
A 3.37% increase in turnover to £5,300,000 (2016: £5,127,000) and a
4.12% increase in pre-tax profit to £404,000 (2016: £388,000).
Results in the UK were better than this but overall profit was reduced
by a £30,000 loss in the Czech Republic, largely as a result of one
difficult contract and delay in site commencement of our major
Borislavka project in Prague.
The consolidated balance sheet further strengthened to £1,381,000
(2016: £1,315,000) despite the share buy-backs undertaken during
the period.
The directors recommended a dividend of £47,711 (2016: £53,070).
Operational Review
Residential
This has again been an important sector for us both in the UK and
Czech Republic.
In the South of England we secured a number of new projects via our
public sector framework commissions, notably a new 30 unit scheme
(together with new office accommodation for a disability charity) for
Shepherds Bush Housing Association in Fulham, West London and
a 57 unit scheme in Poplar, East London for Newlon Housing Trust,
both very long-standing client relationships.
In the private sector we also secured a good number of new
commissions, notably a 213 unit scheme in Kew, West London for
Paradigm Land, a new client. At the end of the reporting period, we
were appointed as cost consultant and employer’s agent on a major
new scheme, Portal West, Acton, West London for an existing client,
City and Docklands. Works are due to commence on site early/mid-
2018.
The London Project Monitoring team continue to be very busy in the
sector and acted on two iconic residential towers, both of which were
completed during the reporting period. Stratford Edge in East London
for HSBC and Dollar Bay in London’s Docklands for Barclays. During
the period we acted for twenty different banks/funding institutions
(including the four main high street lenders), an increase of six on the
previous year.
In the Czech Republic we were appointed on two schemes in central
Prague (Prague 1), both for private clients, 27 Havelská (24 units
and 4 retail units) and Ostrovni Residence (8 apartments and a park
house). The Prague office’s other two residential projects, a villa in
Monaco and an alpine chalet development in Verbier, Switzerland
both completed during the period.
Residential (Private Rented Sector)
Our Leicester office has secured four major commissions in this
growing sector. Two of these, Eccy Village in Sheffield for Abode
Hallam and Grainger and Saffron Court in Nottingham for Cassidy
Group UK and the Cording Real Estate Group commenced on site
following the end of the reporting period.
Separately to this, our London office are currently working on 2
residential schemes for Freshwater Group of Companies, Balham
High Road and Eden Parade in Beckenham.
Student Accommodation and Care Homes
In the UK our Leicester office continues to work on a number of high
profile commissions in the Midlands and North of England, including
projects in Coventry, Leicester, Sheffield and Liverpool. Our project in
Portsmouth finished during the year with our Edinburgh scheme due
to complete this coming period.
During the year our Bristol office was appointed by Bank of Ireland to
provide monitoring services on a large scheme in Plymouth.
We are providing services on a number of Care Villages for Inspired
Villages and continue to work for HSBC on projects in the South East
of England.
Following the end of the reporting period we secured a major
commission to act for Coutts Bank on a care home scheme in North
London.
Hotels and Leisure
We completed our first project at the Grove Hotel in Hertfordshire
in March and are currently working with the client on a number of
feasibility studies for potential new schemes.
Our Hampton by Hilton project for Ability Developments Ltd at
Edinburgh Airport started on site during the year. Phase one of the
bedroom block extension at the existing Doubletree by Hilton in
Cambridge, also for Ability, completed and was handed over at the
end of the reporting period.
