The Trust faced significant financial issues that were uncovered in FY15/16. A planned surplus of £0.7m moved in year to a deficit position for the year was £38.4m. Subsequently a control target deficit for FY16/17 of £27m was set which the Trust was required to deliver in the financial year ending March 2017.
In 2009, the company had £2bn in revenues from business in Greater China (Aerospace, Marine, Energy, Nuclear), yet continued to manage this business through a representative office. The structure was unsustainable for the size and complexity of the future business needs.
The company committed to shareholders the delivery of $100m in productivity related savings over 4-years, underpinned by a culture shift. The business had significant growth potential. However internal operating efficiencies were behind industry benchmarks and were limiting the ability to realise growth.
We are a turnaround, transformation and transition business working in challenged or failing organisations who understand how to improve results in difficult environments. We both design and deliver solutions in all stages of turnaround and challenged situations.