Businesses have faced notably tough conditions over the past 12 to 24 months, with inflation hitting double digits, rising input costs, climbing interest rates, and uncertainties in supply chains and geopolitics. Ground Control, like many others, has encountered these challenges head-on.

As a consequence, during the third year of our five-year plan, we missed key financial targets. For the financial year 2023 to 2024, it was the first time in two decades that we did not see annual profit growth, reflecting both external challenges and unforeseen growing pains.

Despite these hurdles, the business achieved commendable results. We maintained our revenue close to the previous year’s level, at just under £200 million, although short of our £209 million target. Profitability dropped slightly, but cashflow remains robust.

This stability allows us to refocus and intensify our efforts for the current financial year. With inflation returning to normal levels and the expectation of falling interest rates, the outlook is promising. We believe that investing in technology and our people will help us boost productivity and progress.

Every part of our business faced challenges last year. Our core grounds maintenance service opted not to engage in low-price bidding competitions, instead prioritizing customer service and cross-selling alternative services, and still managed to meet its revenue goals.

Winter maintenance was less profitable due to a mild winter, and supply chain disruptions affected our utilities, inland waterways, and rail and infrastructure businesses, which nearly met their revenue targets. We learned significant, costly lessons in our landscaping and construction business from a large contract, where tighter review processes would have averted commencement.

The advantages of a diversified business model were evident last year, even amid tough conditions across different sectors. Diversification provides multiple opportunities and encourages each business segment to improve and exceed expectations.

Our recent diversification includes expansion into Ireland, creating 150 roles through a €5 million investment. With headquarters in Dublin and a secondary office in Belfast, we are actively recruiting. So far, we have secured over €2 million in Irish contracts this year. Our goal is to become the leading net zero, biodiversity-focused company in grounds maintenance, energy, and decarbonization in Ireland.

This expansion is exciting, but it is crucial not to neglect our established markets and customers. One key lesson we’ve learned is that managing existing operations and pursuing growth must be interconnected, organic processes, akin to nurturing a natural habitat.

Throughout trading pressures, we have prioritized biodiversity and environmental sustainability. We continued our Evergreen Fund, investing 10% of profits in nature-based projects and environmental ventures, such as the acquisition of our second farm for rewilding in Cambridgeshire. We are surveying this area to establish a scientific baseline to measure progress.

We have also maintained our carbon-neutral status, verified by the Carbon Trust, and our ambitious near and long-term net zero targets have been validated by the Science Based Targets Initiative.

We launched GC Energy Solutions to expand our electric vehicle charging services and help customers reduce their energy bills and greenhouse gas emissions, leveraging significant lessons we’ve learned.

While economic conditions fluctuate, the pressing needs of our planet remain constant. As a business, we are committed to addressing these urgent environmental needs as part of our core values.

My advice to fellow business leaders: stay true to your core values and purpose, continuously challenge yourself to ensure your actions align with them.

Despite recent challenges, the future looks brighter. We will focus on reigniting revenue and profitability growth by delivering outstanding customer service, investing in our talented teams, and promoting sustainable practices that address both our needs and the needs of our planet.

Simon Morrish is a serial entrepreneur and the chief executive and majority owner of Ground Control, based in Billericay, Essex. He and his fellow directors, Kim Morrish and Martin Leuw, are working to achieve £300 million in sales while keeping sustainability at the core of their operations.