Swindon-based construction group Beard has delivered another strong set of financial results for the year ending 31 December 2018, with pre-tax profits of £4.5 million, up from £4.3 million in 2017.
Turnover increased to £150.2 million, up from £144.5 million the previous year. Cash flow also remained exceptionally strong, the family-owned firm reported.
“2018 has been a good year for the Group with favourable market conditions generating healthy levels of turnover and profit,” said Beard’s chairman, Mark Beard.
“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.”
Business highlights for Beard in 2018 included the firm being appointed to procurement specialist Pagabo’s £1 billion 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 three-year framework with a one-year extension option, is for all public sector contracting authorities and covers education, health, sports, leisure, prisons and emergency services building projects in the £250,000 to £5 million value range. Beard is currently on 13 multi-million-pound regional construction frameworks.
Other important contract awards for the company 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 £5.3 million scheme to build Charlton Wood Primary Academy at the old Filton Airfield in Charlton Hayes, Patchway, for South Gloucestershire Council, and a £3.4 million extension to Fairford Church of England Primary School in Fairford.
In Tidworth, Beard was awarded a £9.3 refurbishment of officers’ messes for Aspire Defence, and an £11.5 million combined contract to create Oxford’s first dedicated access facility for welcoming prospective university students and a new undergraduate centre at Wadham College.
The company also completed a £7.9 million science education centre and innovation hub for the Oxford Trust at Stansfeld Park in Headington Quarry. Due to open in September this year, the new Science Oxford Centre (SOC) and Wood Centre for Innovation (WCFI), is the UK’s first integrated indoor-outdoor science education centre for primary and early years children.
In Maidenhead, Beard secured a £7 million contract to build a cutting-edge, 13-classroom teaching complex at Furze Platt Senior School, and the company is working with Surrey County Council on the £5.3 million Linden Farm specialist supported living scheme for adults with autism in Alford.