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Mon October 22 2018

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Beard reports steady 2017 results

18 Apr Family-owned regional contractor Beard has posted another set of solid financial results for 2017.

Chairman Mark Beard
Chairman Mark Beard

After reporting 23% turnover growth and 41% pre-tax profit for 2016, the strong performance was maintained in 2017.

For 2017 Beard maintained its pre-tax profit at £4.4m (2016: £4.4m) and grew turnover by 6% from £136.9m to £144.5m. The order book stands at £105.6m.

Chairman Mark Beard said: “2017 was a milestone year for Beard marked by our 125th business anniversary, continued high levels of repeat business and appointments to four major regional construction frameworks.

“Looking ahead, although the market remains competitive, our strength and capability in delivering complex construction projects and strategic focus on prompt and faultless delivery, is helping us win work, and providing further opportunities to negotiate better contractual terms.  Our current order book and pipeline are looking good and we expect to see further business growth this year particularly within the education and hotels and leisure sectors as a weaker pound continues to attract overseas students and tourists to the UK.”

Beard operates from offices in Bristol, Swindon, Oxford and Guildford. Top projects for the company in 2017 included the completion of the £7.2m Being Brunel museum alongside Bristol’s Floating Harbour for the SS Great Britain Trust, and an £8.3m conversion of Hadspen House in Somerset into a hotel.  Work won included an £11m science building refurbishment at Eton College, an £8.45m student accommodation for Somerville College at Oxford University, and an £11.2m spa development at South Lodge Hotel in Horsham.

MPU

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