Profit and turnover rise at Beard
Construction group Beard has hailed a “faultless project delivery strategy”, as it recorded increases in both pre-tax profit and turnover in 2018.
The family-owned firm, which has offices in Bristol, Swindon, Oxford and Guildford, increased pre-tax profit to £4.5m for the year to 31 December 2018, up from £4.3m the year before. Turnover rose 4% to £150.2m over the same period.
The year saw Beard appointed to procurement specialist Pagabo’s three-year, £1bn National Framework for Medium Works for public sector projects across Berkshire, Buckinghamshire, Oxfordshire, Surrey, Sussex; Hampshire/Isle of Wight, Gloucestershire, Wiltshire, Bristol/Bath, Dorset and Somerset.
The framework is one of 13 multi-million-pound regional frameworks the company currently finds itself on.
Other contract wins in 2018 included a major scheme for the Clifton Suspension Bridge Trust to replace toll booths on the Grade I-listed Clifton Suspension Bridge; a £5.3m scheme to build Charlton Wood Primary Academy at the old Filton Airfield in Charlton Hayes, Patchway, for South Gloucestershire Council, and a £3.4m extension to Fairford Church of England Primary School in Fairford.
In Tidworth, Beard was awarded a £9.3m refurbishment of officers’ messes for Aspire Defence, and an £11.5m combined contract to create Oxford’s first dedicated access facility for welcoming prospective university students and a new undergraduate centre at Wadham College.
Chairman Mark Beard, who is a vice president of the Chartered Institute of Building (CIOB) and is set to become president in 2020, said: “2018 has been a good year for the group with favourable market conditions generating healthy levels of turnover and profit.
“Our strong construction performance has been underpinned by Beard’s talented and committed staff, rigorous financial management, and our prompt and faultless project delivery strategy which continues to win work and generate high levels of repeat business. With a strong order book currently standing at £105 million, and our ongoing investment in growing our own skilled workforce, we expect this positive momentum to continue in 2019.”