Quadron's annual report and financial statements for the year ended 31 March 2010 show another strong financial performance for the company following its decision to divest its property business to concentrate on horticultural and grounds maintenance services.
The major operational focus during the year had been the consolidation of the five new contracts for Birmingham City Council and one for Bristol City Council which are now successfully integrated within the business.
New appointments were made to the Management Board including an Operations Director and Senior HR Manager, and other senior level appointments included the corporate positions of Training Manager, Horticultural Development Manager and Senior IT Manager.
With the forward order book for local authority grounds maintenance contracts standing at 225m the Company has a strong base from which to tender strategically and selectively in the future, targeting only those contracts that will add long-term sustainable business.
Tight cashflow control and prudent accounting policies have resulted in a substantial positive bank balance with no reliance on borrowings, and all development and start up costs fully expensed during the year.