Telent has announcedc that it has seen its profits from operations double in the year to 31 March. This was on the back of continuous improvement initiatives across all its major long-term projects and the successful completion of certain key project milestones.
Telent supports clients across the UK and Ireland’s critical infrastructure, ranging from TfL to emergency services across the British Isles, the broadband networks for homes and businesses and around a quarter of the UK’s traffic systems. Many of the customer relationships have been maintained for decades.
EBITDA from Operating Activities rose to £27.8 million (up almost 50% from 2023’s £14 million) in the year to the 31 March 2024 and the Company generated £40.2m of cash from operating activities. Turnover was down slightly at £461.5 million (2023: £476.1m) as the company refocussed on more profitable projects. Telent ended the year with a forward order book worth more than £400 million reflecting the long term nature of many of its contracts.
“This was an important year for Telent as the initiatives we have been putting in place to improve our profitability and put the business on a sound footing for growth, have borne fruit. We have great opportunities to build on our strong position with existing customers, and develop new areas of activity, and that gives us great confidence about the future of the company”, Telent, CEO Jo Gretton said.
Among the success for Telent in the year have been significant progress on major projects for Network Rail and National Highways. Network Rail’s Traction Power Centralised Management System project has proven a very complex and technically challenging contract, involving new infrastructure and software to provide Network Rail with a completely new traction control power operating system. Telent achieved Core Factory Acceptance Testing Product Approval in July 2023 and successfully entered into service at Raynes Park in April 2024. Over the next financial year, this technology will roll out to 13 of 15 regions, covering the entire electrified rail network in England.
The Highways team successfully migrated 37,000 services into National Highways’ new transformed National Roads Telecommunications Service network, connecting all of the cameras, signs, signals and traffic monitoring systems at the roadside to the seven National Highways Control Centres. This complex technical and operationally challenging migration programme was completed without any degradation to service. Telent also replaced 6,065 roadside technology assets as the final milestone in the programme to upgrade a total of 11,880 devices across the network, allowing National Highways to retire their legacy network and to complete its Transformation Programme.
