Strong results for Beard despite recession

Swindon, 19 May 2010: Despite the impact of the recession on the building sector, Beard, the family owned construction business with offices in Swindon, Oxford and Guildford has reported strong sales of £50m and profits before tax of £850,000 for the year end.   These strong results are due to contract wins such as refurbishments at Royal United Hospital in Bath; new classrooms for St Philomena’s Catholic High School in Carshalton;  new rooms for Downe House School, Thatcham; improvements at RAF Benson; refurbished eco-barns at Tubney House for Oxford University and a new entranceway at the Pitt Rivers Museum, Oxford. These have strengthened its financial standing with shareholder funds of £4.3m and cash balances of £5.1m at the close of 2009. 

Clive Bassett, Beard’s Financial Director, said: “It is extremely pleasing to publish another solid set of financial results. Whilst turnover was down from the record £56m in 2008, we have restricted the impact of the financial meltdown, successfully delivering projects that exceed our customers’ exacting demands in spite of the economic backdrop.” 

“Consistent success in project delivery coupled with a strong customer base has given us a significant volume of repeat business.  Our involvement on several key frameworks such as the Framework South West, Aspire,  Oxford County Council, Thames Valley Police and Oxford University Estates Department help, and the expansion of our operations into the Guildford area have also lessened the impact of fewer construction projects,” he added.

Looking forward Clive Bassett said: “Beard will continue to deliver the excellence required by our clients and is further developing its strengths into the first sectors to recover from the recession.  This should help us minimise the impact of the reduction in public funded projects as the new Government makes the necessary corrections to public expenditure.”

Tubney Barns, Oxford University

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