BMT Group returns more than £5m to staff after another year of growth

Leading international design, engineering and risk management consultancy, BMT Group Ltd, has reported a 12% increase in turnover for the 2007 financial year, exceeding its annual 10% growth target and enabling the company to return more than £5 million to its staff in bonuses.

A total of £5.2 million ($10.6 million) was shared amongst 1,200 BMT staff through the company’s Employee Benefit Trust scheme and profit-related payments through subsidiary companies. BMT has rewarded staff with £28.5 million in bonuses since the inception of the employee benefit trust in 1998.

BMT’s emphasis on organic growth and diversification has seen turnover rise to £95 million ($193 million), and operating profits increase by 3% to 4.3 million over the last year.

Key developments have included BMT’s expansion into the high growth economies of China and India. Most recently, the company has formed a joint venture with Hong-Kong based Titron Ltd, to expand the engineering and project management consultancy services that BMT provides in China. BMT Titron Ltd has invested heavily in a ship design suitable for Chinese build and is now in discussion with shipyards to develop this vessel.

With offices in Mumbai and Ahmedabad, BMT Consultants India Pvt Ltd is focused on improving local port infrastructure and logistics and has achieved a very successful first year, winning a range of major contracts from multi-national clients such as Shell, DP World and Petronet LNG.

BMT Group Chief Executive, Peter French, said: “We have continued to pursue a strategy of diversification into new geographic regions and sought to remain at the forefront of our key markets through providing clients with the best of our cross-group thinking and solutions. This has underpinned our sustained growth and provides us with a solid foundation to face the challenges of growing economic uncertainty.”

BMT’s international network now includes 60 offices across 24 countries. Additional expertise and capability have also been brought into the group in the last year through the acquisition of the Newfoundland marine and civil engineering consultancy, Earle Barclay & Company Inc.

Drawing together specialist expertise and sector knowledge, BMT is also positioning itself to provide clients with more holistic consultancy and services in key areas such as sustainability.

Peter French continued: “We have helped many clients to assess and enhance their sustainability and see this as an important growth area for our business. We have recently appointed a new Head of Sustainability to the group and look forward to expanding our capability with this additional expertise.”

View the Annual Review 2008 in the ‘Documents and Resources’ section of the BMT Group website: http://www.bmt.org