Profit stays flat on 2020 number
Regional contractor Beard said turnover last year topped the pandemic-affected number in 2020 with revenue growing 6% to £144m.
The figure was still down on the pre-pandemic figure of £158m with the firm, which has offices in Bristol, Guildford, Oxford and a headquarters in Swindon, posting a pre-tax profit of £4.2m – flat on 2020’s number – and just £200,000 off 2019’s amount.
It added that its cash position at the year-end was just under £40m, up from the £32m posted at the end of 2020.
The firm said its average payment time was 27 days and added: “We believe in treating suppliers fairly because it is the right thing to do. Their trust and goodwill has been central to our relative success.”
Beard, which last year completed work on a new building for St Hilda’s College, Oxford, said it claimed just £3,000 in furlough cash last year, compared to the £679,000 it was handed the year before.
Exceptional items were at zero last year with the firm having racked up £722,000 in restructuring and redundancy costs because of the pandemic in 2020.
No comments yet