Engineering confidence in an uncertain world

As the world continues to face rising uncertainty, from climate volatility to shifting geopolitical dynamics, more and more organisations are turning to trusted partners who can help them navigate complexity. In 2024, we proved once again why we are that partner of choice.

Our Annual Review captures a year of strong, sustainable growth built on our deep technical expertise, resilient business model, and enduring customer relationships. We delivered a 10% increase in revenue, reaching £203.5 million, and grew profit before tax and employee distributions by 70% to £23.8 million.

As an Employee Benefit Trust (EBT), we shared that success across our business, distributing £9.8 million to our people - a 92% increase on the previous year.

This growth is not just about financial results, it is about enabling us to do what we do best: solve the complex engineering challenges that truly matter. From national security and climate risk to offshore renewables and data-driven maritime innovation, we’re helping customers all over the world build a safer, more sustainable future.

Putting our customers at the centre

Our success is built on strong, long-term partnerships with our customers. In 2024, they entrusted us with larger, more complex, and longer-term contracts, demonstrating their continued confidence in the value we bring.

A defining moment for us this year was leading the preliminary design review for the Royal Navy’s Fleet Solid Support (FSS) programme - the largest contract in our history. We delivered it on time and to expectation, reinforcing our role as a trusted adviser, not just a supplier.

Across the globe, we supported customers through diverse and evolving needs. In North America, we continued to deliver asset monitoring solutions for the oil and gas sector, while expanding into renewables and offshore wind to help our customers decarbonise and digitise. In Canada, we won a new contract to deliver Naval Technical Officer Training for the Royal Canadian Navy, expanding our service offering while strengthening existing relationships.

In Asia-Pacific, we helped port operators, environmental agencies, and maritime customers with integrated services - from advanced SOV design to consulting on climate risk and regulatory change.

Wherever our customers are, we are standing beside them, offering technical excellence, strategic guidance, and dependable delivery.

Investing in our people, driving innovation

Our people are the engine of our success, and 2024 was no exception. A 6% rise in employee engagement reflected the pride, trust, and commitment we feel across our teams. We strengthened our workforce with new talent, developed future leaders through targeted programmes, and continued to support STEM education, diversity, and inclusion initiatives.

We did not stop at supporting today’s projects, we looked ahead. We continued to invest in future-facing technologies like hydrogen-powered vessels, AI-assisted ship design, and autonomous maritime monitoring systems. These innovations are helping us, and our customers, prepare for the next chapter in engineering.

Looking forward with confidence

With a strong financial foundation, a growing global presence, and a clear purpose, we are looking ahead with confidence. Our work has never been more relevant. As the world adapts to new pressures - from national defence to environmental resilience – we will be there, delivering meaningful solutions with clarity, care, and commitment.

We are proud of what we have achieved together in 2024, and even more excited for what comes next.

“This year’s performance shows what’s possible when brilliant people, bold thinking and trust come together,” said Sarah Kenny OBE, Chief Executive of BMT.

“We exist to help our customers navigate the biggest engineering challenges of our time, and we’re proud to be doing that at greater scale and impact than ever before.”