It adds up to success
Nov 11 2009 by Sue Scott, Evening Gazette
A TEESSIDE scaffolding firm has reduced its annual costs by almost 50% thanks to a flexible financial accountancy model.
Middlesbrough-based Project Scaffolding - which designs and erects scaffolding for projects across the UK - has halved its costs in the last 18 months since working with Yarm-based management accountancy firm, Absolute & Accurate Solutions (A&A Solutions).
The assistance from A&A Solutions has enabled Project Scaffolding - which employs 170 and has an anticipated annual turnover of £9m - to take on more work and target future clients.
Project Scaffolding managing director, Mick O’Donnell, said A & A Solutions’ proactive approach had helped to transform the business. “Working closely with them, we have put strategic objectives in place so we are continuously growing and challenging ourselves,” he said.
While other companies in the construction industry have felt the pinch in recession, Project Scaffolding recently completed the biggest contract in its history - part of a £275m retail development in Aberdeenshire for Miller Construction.
The Teesside firm has also designed and erected the scaffolding for the iconic Sage Music Centre in Gateshead.
Offering services including design, scaffolding and project management, the company works with blue chips and national firms including Balfour Beatty, British Gas, John Mowlem & Co, Amoco Oil Exploration, Skanska and Lundbeck Pharmaceuticals.
A&A Solutions is looking to triple the size of its operation following a successful first two years in business.
Yarm man Anthony Finegan launched the business following a career in various companies, including large and small family-owned businesses, start-ups, venture capital-backed organisations and sole traders.
He said: “We have developed our own black box of financial management tools and techniques, which are essential for any modern day progressive business.
“The financial model has been proven to work for any business, from sole traders to sizeable companies such as Project Scaffolding - and is due to many years of experience in commercial accounting.”
