Hydramech

Perth Business Development Case Study

With Steve Nappy, Director –Hydramech

Hydramech Engineering

The QBR process with Brentnalls has helped us get very good in capital planning and business planning. We have a good understanding of our numbers. We can plan and feel a lot more secure about how we plan.

About Hydramech

Hydramech specialises in mobile mining machinery components including hydraulic cylinder services for underground mining equipment. Based in Kalgoorlie, Western Australia, Hydramech’s extensive range of precision machining equipment assist with cylinder precision machining and fabrication tasks such as cylinder: refurbish, repair, rebuild, exchange and sales.

Accountants perth

Business Challenges

Hydramech has worked with Brentnalls WA since around 2015. At that time, Hydramech was a new business, was doing well and had good margins. The business wasn’t experiencing any substantial challenges to prompt the owners to seek an external advisor, but having worked with Brentnalls on another business, Director Steve Nappy knew there was always room for the business to do better, and that the business would benefit from an impartial external perspective, and from support with planning and forecasting.

“Before working with Brentnalls we weren’t planning at this level at all. We were looking at the P&L, we were looking at the numbers and we were having discussions about the future. But we weren’t forecasting. We were tax planning but not anywhere near as effectively as we do now. Although we thought we were pretty good at what we did, with Brentnalls WA’s support we’ve gone a lot further.” ~Steve Nappy, Directo

Working with Brentnalls WA

Brentnalls WA started running the Quarterly Business Review process with Hydramech, which involved in depth quarterly meetings to review business performance and financial analysis, look at the business forecasts, capital expenditure and planning, identify opportunities and red flags in the business and align on key actions.

Steve says “The QBR process with Brentnalls has helped us get very good in capital planning and business planning. We have a good understanding of our numbers. We can plan and feel a lot more secure about how we plan. We know there’s an independent set of eyes watching the business so if there’s an issue we’re onto it and can react.”

“Brentnalls have been great to work with, they’re a very good tool in our war chest. I know I’ve got allies there, people who have a very impartial view who can help guide me through crucial decisions. They act as a shareholder; they act as an independent CFO.

Results

Hydramech has gone from strength to strength and continues to grow. In the past three years the business has seen turnover increase by 40% and their margins have steadily increased.

“Brentnalls have certainly given us a lot of advantage. They have helped us with our capital planning, helped us understand our numbers and continue to push and grow the business.

We’ve had a really positive experience. Their support helps us plan, provides business clarity and we’re kicking goals.”

 

 

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OUR DIRECTORS

Chris Mandzufas

Chris Mandzufas

Chris has a diverse range of skills and experience as a result of providing accounting, taxation, advisory board and management consulting services to owners and directors of fast growing businesses.

Chris Smith

Chris Smith

Chris Smith has been a member of the Chartered Accountants Australia & New Zealand since 2006, a member of the Tax Institute of Australia since 2013, and a registered Tax Agent since 2018.

Tony Monisse

Tony Monisse

Tony’s key focus is the integration of strategy and financial management. To this end he has developed tools and process that facilitate this integration, including business modelling, target setting and rolling cash flow forecasts.

Maximise your Business Potential

Whether it’s business growth, improved profitability and cashflow or streamlining operations to improve work/life balance, we can help you achieve your business goals. Gain clarity on which strategies will accelerate the success of your business

Our Impact

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INCREASE IN PROFIT AND CASHFLOW

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IMPROVED ALIGNMENT AMONG LEADERSHIP

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IMPROVED CLARITY IN FINANCIALS AND FINANCIAL WELL BEING

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IMPROVED STRATEGIC FOCUS

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GREATER ACCOUNTABILITY AMONG LEADERSHIP

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IMPROVED MULTIPLE FOR BUSINESS VALUATION

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