Northbridge Industrial Services (LON:NBI) Chief Executive Officer Eric Hook caught up with DirectorsTalk for an exclusive interview to discuss their latest trading update, the return to growth and the renewables sector.
Q1: You recently updated the market on trading and commented on your continuing improved performance during the second half of 2019. Has Northbridge now turned a corner and has growth returned?
A1: Yes, we are now forecasting a profit for 2019 for the first time since 2014 and actually, the underlying business has been growing its EBITDA and cash flow since 2016.
Our markets have stabilised and we are seeing some growth again, particularly in Australasia and Europe.
Our new venture in North America is also showing early promise of growth and we’re optimistic that this will continue and benefit the company in the longer term.
Q2: I know that Northbridge Industrial Services is also involved with the renewables industry, is this a significant part of the business?
A2: It’s certainly a growing part of the business and one we are increasingly focussed on. Both our subsidiaries, Crestchic and Tasman, play their part in different ways.
Crestchic not only works directly with the renewables sector itself but also helps to ensure the back-up systems work effectively, which are essential when adding renewables to the grid.
Tasman is also involved in sustainable power generation and it is one of the main suppliers to the geothermal power industry in New Zealand. It’s also currently working on its first contract in Australia relating to carbon capture and reinjection in offshore Australia.