Kinovo plc has recently released its Annual Report and Accounts. Comprising the specialist electrical, mechanical, and decarbonisation subsidiary brands of Dunhams, Purdy, and Spokemead, these latest results clearly endorse the group’s strategy of offering a range of end-to-end specialist services across the three pillars of Regulation, Regeneration, and Renewables.
David Bullen, Kinovo’s Chief Executive Officer comments: “We’re at the end of another financial year, and I want to offer my congratulations and huge thanks to the whole Kinovo team. We have made significant progress as we continue to deliver on our strategic goals, with an excellent performance ahead of previous expectations, underpinned by improved operational efficiency. With strong growth in profitability, revenues grew to £64.1 million, with £162.6 million of visible revenues for the next three years.
“This performance is a result of our clearly defined growth strategy, with the team focused on driving the key pillars of Regulation, Regeneration and Renewables. Each represents a significant opportunity for the Group as we continue to execute our strategy and position Kinovo as a one-stop-shop for all our client’s service needs to meet regulation and compliance requirements as well as national decarbonisation targets.
“Our continued focus on diversification has been a major contributor to our strong bottom-line growth this year, and we will continue to prioritise the diversification of our contract, client and service base. There have been a number of significant new contract wins, contract extensions and awards on framework agreements, including a £40 million pa, eight-year electrical contact with The Hyde Group and places on the Greener Future Partnership’s Decarbonisation Framework and the Eastern Procurement Asset Improvement and Sustainability Framework.
Investing for a sustainable future
“To ensure that we continue to deliver on our clients’ expectations, we have invested internally in building our service support, procurement and business development teams, as well as in technology and accreditations like PAS 2030. Tooling up to meet the social housing market’s huge need for decarbonisation solutions, we have also established our new specialist retrofit team at a new office in East Anglia.
“We are of course, first a foremost, a people business, which is why investing in our people is fundamental to our growth. It’s due to their sustained commitment and efforts throughout the organisation that we have had such a successful year. We are proud to have an incredibly diverse workforce, and equality, diversity and inclusion are key to what we stand for. We are also proud of our commitment to at least 12% of our employees being apprentices.
“ESG remains a fundamental part of what drives Kinovo both in terms of day-to-day operations and in our values and commitments and will be moving to Scope 3 reporting and action, still with our objective of achieving Net Zero by 2040. Our social value commitments to improving the lives of people, and the communities where we live and work continue to have positive and lasting impacts.
“Thank you once again to everyone for helping to make this such a positive year, while setting firm foundations for future growth, as our values-based culture will help us continue to raise living standards across the UK, supporting families and communities, keeping them safe, and making the possibilities of tomorrow a reality today.”
