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Sat June 19 2021

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Beard growth reaches new level

21 Apr 16 Regional contractor Beard has delivered a record set of financial results for the year ended 31 December 2015 and is seeing its growth continue in 2016.

Chief executive Mark Beard
Chief executive Mark Beard

The family-owned firm, which has offices in Bristol, Guildford, Oxford and Swindon, reported a 24% leap in its pre-tax profits for the period, up from £2.3m in 2014 to £2.9m.

Turnover grew 26% for the period from £88.1m to £110.8m on the back of improving UK market conditions.

The year-end order book also rose by 55% from £60m to £93m while cash flow remained strong, with cash balances often exceeding £12m.

Beard is on 10 construction frameworks and secured a number of projects last year in the education, healthcare, sports and leisure and commercial sectors. These included: a £4.1m refurbishment of a Georgian terrace, for the University of Bristol's Law School in Berkeley Square, Bristol; a £5.7m construction of the new Alexander Devine Children’s Hospice in Maidenhead; a £10m headquarters for Vision Engineering in Guildford; a £5m library and sixth form centre for Reigate Grammar School; and the £3.2m construction of Ridgeway Primary Academy in Swindon.

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Chief executive Mark Beard said: “Our focus on prompt and faultless delivery, and being selective about the projects we undertake, has helped us win more work and provided new opportunities for growth in 2015. We’ve also seen high levels of repeat business which we have been able to secure due to investment in people, systems and modern building practices giving us the confidence to be able to deliver for our customers. The future results are likely to be of a similar or better level.”

He continued: “Looking ahead, our order book is strong and we expect to see another good year of sustainable growth for the business which continues to benefit from a strong leadership team and ongoing investment in training and development and enhancing our construction services offering. I see growth this year coming from doing more of what we already do in our business sectors and growing market share by being the best at what we do.”

Since taking over as chief executive in 1999, Mark Beard has seen the business grow from £18m to £110m turnover and profits rise from £250,000 to £2.9m over the past 17 years.

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