From 2006 to 2010, Beca doubled its annual revenue from $180 million to $366 million as well as its after-tax profit to $33 million. It has reported record profits seven years in row, despite backdrop of global economic uncertainty since 2007. Close to 40 percent of its revenue is now generated offshore.
As private company, Beca has not previously submitted its financials for inclusion in the Deloitte/Management magazine Top 200 list. It is the first private company to win the Company of the Year award in the 21-year history of the Top 200 awards.
The engineering design and project management consultancy practice is one of New Zealand’s most impressive commercial success stories, the judges said. Not just because of the deliberate, strategic and professional way in which it has built the enterprise over almost 100 years, but also because of its consistent commitment to best practice management, customer service, people recruitment and sustainable leadership.
As former chairman Sir Ron Carter used to say: “Win the work, do the work well, get paid for it, and do it with the best possible people.” In the past year the company has focused on what its first ever externally recruited group chief executive, Keith Reynolds, calls “mainstreaming its business model” by formulating its vision and values, mission statement, strategic framework and balanced scorecard reporting.
Beca may have been historically successful but it is not resting on its laurels. According to Reynolds, it is now preparing to be even more effective at serving its clients, providing more opportunities for its people, setting stronger growth course, delivering high performance and becoming “truly great international business”.
Beca has been raising its profile, both locally and globally. Earlier this year it was recognised in NZ Management magazine’s first ever Most Reputable Organisations survey of businesses as New Zealand’s fourth most reputable business organisation. In the past five years it has won recognition for its involvement in more than 60 award-winning landmark projects around the world. recent example is the $5 billion Marina Bay Sands complex in Singapore where it project managed the development of the world’s longest elevated swimming pool, straddling three 55-level towers.
More than 900 of its 2500 employees own shares in the consultancy. Its employee shareholding structure is considered an important business “differentiator”. In his shareholders’ report this year, Executive Chairman Richard Aitken said that “sharing the rewards with employee shareholders has been one of the main drivers of the extraordinary success of the Beca business, both in New Zealand and internationally”.
Other Company of the Year finalists:
Ebos Group
Ryman Healthcare
Other Top 200 company award winners:
Kensington Swan Responsible Governance Award
Winner: Vodafone New Zealand
Finalists: ANZ Banking Group, NZ Aluminium Smelters
Marsh Most Improved Performance Award
Winner: Restaurant Brands
Finalists: Briscoe Group, Meridian Energy
Workbase Best Growth Strategy
Winner: Sky Network TV
Finalists: Ryman Healthcare, Zespri Group
A more comprehensive review of the key factors behind the success of these companies can be found in the December issue of NZ Management.
