Profit is Paramount - Our best financial results yet!

Profit is Paramount - Our best financial results yet!

We’re not necessarily ones to blow our own trumpet. But on this occasion we’ll make an exception.

It’s always nice to be nominated for an industry award, and we’ve been lucky enough to win the odd office design award. But we’re a business and while recognition like this proves that we must be doing something right, just like every client that we work with, we also have to ensure that the company remains financially sound.

We do this by maintaining the company culture that has served Paramount well for the last 27 years. By investing in our staff and ensuring that the right people are leading the way, we can make sure that the business is not only a great place to work but also a profitable success in the office design sector.

Onwards and upwards

Our 2015 accounts were filed recently, and we’re happy to report that they show a year-on-year increase in turnover of over 50%. As well as turnover increasing to £14 million, our operating profits are standing at £446,000.

It looks like this is set to continue in 2016. We’ve got a full order book of fit-out projects, including a roll-out across the UK for ITV, who we’ve already worked with in Wales and the West Country, as well as a multi-million pound project for a leading defence contractor.

Our Executive Chairman, Nigel Roberts, and Managing Director, Andrew Roberts

A word from our chairman

In his new role as Executive Chairman, our own Nigel Roberts has said that he attributes our success to several initiatives that we have recently put in place.

“Three years ago, we moved into our new combined office and showroom in St Mellons, which was designed, constructed and fitted out by our own team. This has proven to be one of our best marketing tools and a facility which compares in quality with anything you will find in London and beyond.”

Our ShowOffice has certainly shown the clients who visit us what’s possible to achieve through office design and how we approach a project. It’s often one of the reasons why companies choose to do business with us.

Paramount Show Office

Nigel also felt that our recent rebrand has helped. He explained, “In September 2013, we launched our new website which, combined with our digital marketing activity, has proven to be a tremendous success. We are now appearing at the top of Google for terms such as office fit out and receiving regular enquiries from all over the UK.”

Optimising space & promoting wellbeing

Positioning Paramount as one of the UK’s leading office design, fit-out and furniture companies, we’re not only able to meet our clients’ needs but also, as our strapline says, optimise space. With a focus on wellbeing in the workplace, creating an office environment which recognises the needs of staff is essential to keeping them happy, as well as attracting and retaining the best people.

Our new Managing Director, Nigel’s son Andrew Roberts, agrees. “Our focus on designing effective workplaces, combined with our ability to provide clients with the full package, from concept through to design, delivery and handover, was a factor in us winning major new contracts in 2015. These have included blue-chip clients such as KPMG, ITV and General Dynamics.

KPMG South Coast Office Fit Out

“The years following the recession were challenging for companies like ours in the construction-related sectors, but we have turned a corner and our business is now growing. We have always kept a good control of our costs, which means we can offer our clients the best value as well as the best in office design and finish.”

Looking to the future

2015 also saw us expanding into projects outside of Wales, including London, the south west and the Midlands. In 2016 we’ll be working in London again, as well as Plymouth, Leicester and Nottingham.

With a new young Management Team and recent recruitment in our design, project management and finance teams, 2016 is already looking good. At the half-way point of the year we already have over £10 million in the order book, which is a very nice position to be in. We’ve also paid off our development loan from Finance Wales, so we’re now debt-free.

Exciting times ahead

We’ll leave you with some final words from Nigel. “There are also some tremendous opportunities opening up on Paramount’s doorstep in Cardiff, Swansea and Newport, with the new City Deal, the Metro and the electrification of the main line to London.

“I’ve also helped to champion the proposal for a business technology park in St Mellons for the last eight years, which is finally in the Local Development Plan. It’s an exciting opportunity to expand Paramount Business Park and attract new businesses to South Wales.

“I am pleased to be handing over a very profitable and dynamic business to Andrew and his team so that they can build on the success story which is demonstrated by our 2015 results.”

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