We have published our first Annual Review 2023
Our first Annual Review outlines our achievements and progress during our first full year as an independent organisation.
Avove was formed in April 2022 from the sale of the utilities division of the infrastructure services company, Amey. The establishment of Avove as an independent business created a unique platform to leverage compelling market opportunities and develop a strategic proposition based on sustainable growth.
Our Annual Review provides our colleagues, clients, shareholders and other stakeholders with clear and transparent information on all aspects of our performance during 2023 including the progress we have made to drive sustainable outcomes.
In our first full year as an independent business, we transformed the way we engage with our colleagues, clients and communities.
We are building a vibrant brand and forward-thinking organisation that we can be proud of, underpinned by our core values and expert, responsible, agile partnerships with our clients.
Summary of the key findings:
- We have seen a 22% year on year revenue increase with £17.9m Net Assets (up by £6.7m) and £10m cash balance
- We employ 830 colleagues including 265 new starters, with 25% from colleague referrals
- Investing in our colleagues with more than 500 colleagues receiving external training and over 13,000 hours of training
- Increased our in-house design and commissioning teams by 25%
- Awarded our colleagues with 540 Avove & Beyond vouchers
- We donated £20,000 charities
- We achieved 99% Achilles Audit Compliance
- 58 Subcontractors were successfully onboarded
Annual Review 2023
2023 has been a year of strong progress financially for Avove, as we accelerated our revenue growth and continued the positive trend in our operating profit improvement for the second consecutive year. This is a testament to the achievements of our frontline delivery and account management teams, who have maintained our high standards and delivered strongly for our clients. Across the business we have purposefully stepped up our level of engagement with all clients, to ensure that we can more effectively understand the challenges that they are facing and support them in delivering better outcomes.
Avove, Executive Chair, Mark Perkins