Jobs saved as builder boosts profits

LOCAL jobs have been saved as a result of a 50 per cent increase in operating profit for house builder Taylor Wimpey, who have offices at Birchwood, Warrington.
The future for the company’s Warrington office, which employs 85 people in the North West, is now looking sound, according to the Institute for Turnaround (IFT).
IFT member Martyn Everett joined the company as interim deputy finance director in 2008 and has helped turn its fortunes around.
Half-year profit for this year are up 50 per cent to £100.9 million.
The IFT says Martin immediately introduced a number of tools which were crucial to the turnaround, including daily borrowing reporting, 13 week cash forecasting, upgrading existing monthly cash forecasts and designing a new board reporting package.
He also developed an Enterprise Priority Model analysis – which helps the business to negotiate better with their various stakeholders. He also produced Group wide operating guidelines, authorisation procedures and protocols to explain and also ensure compliance with new banking covenant structures and limits.
Daren Bekisz, IFT’s chairman for the North region says, “Taylor Wimpey is an important local employer for Warrington and the wider North West.
“This is a really great success story that shows how organisations in difficulty can be brought back to significant profitability.
“IFT members are providing vital support to other businesses in Cheshire too. They have the proven credentials to go in to a struggling business, quickly and thoroughly assess what’s needed, and then get actively involved in helping to turn things around. The turnaround and transformation work they are doing is absolutely crucial for the local – and wider – economy”.
The Institute for Turnaround is a professional body for operational, funding and advisory practitioners in business. The principal role of a turnaround professional is to use his or her skills set to bring about profound and radical change.