Swindon construction group Beard’s profits soared by 47% last year as it bucked the trend in the building industry. Pre-tax profits for the year to December 31 came in at £2.1m against £1.4m in 2013 on turnover up 15% to £88.1m.
The family-owned construction group, whose boards have been a familiar sight on building projects around Swindon for more than 100 years, said it expects to continue its strong business performance this year. Its order book currently stands at £58m.
During 2014 its orders climbed by 50% to end the year at £60m as it won work across the South of England and, increasingly, in Bristol and Bath. 
Cashflow also remained exceptionally strong, with cash balances often exceeding £6m. Beard, which also has offices in Oxford and Guildford, works with long-term partners in specialist areas such as education, ecclesiastical and heritage buildings where it can add value projects and avoid the kind of low-margin work which is still impacting on the construction industry.
The firm, which described trading conditions in the industry as “challenging”, is on seven construction frameworks and last year secured a number of top projects in the education, healthcare, ecclesiastical and commercial sectors.
These included a £5.3m contract to transform the former HM Revenue and Customs tax office into student accommodation in Bristol; a £4.7m community centre construction for Oxford City Council in Oxford; a £3m extension of Haydonleigh Primary School in Swindon for Swindon Borough Council; a £960,000 refurbishment and extension of the Royal Surrey County Hospital’s Ophthalmology Department in Guildford, and a multi-million pound framework scheme to build a new three-storey teaching complex in Worthing for West Sussex County Council.
Managing director Mark Beard, pictured, said: “We’re delighted with this year’s business performance which has delivered record financial results and substantial growth for Beard.
“Looking ahead, our order book and cash balances are strong and we expect to see further growth across all our business sectors this year as we continue to focus on our strategy of prompt and faultless service delivery, good cost control and being selective about who we work with and the projects we do.
“We’ve also positioned the company for its next stage of growth by strengthening our leadership team, increasing our investment in training and recruitment and enhancing the services and support we provide to our customers.”
Beard, which started in business in 1892, is the current holder of the prestigious PwC West of England Business of the Year Award.
It undertakes design and build, new build, restoration and refurbishment on a range of projects up to £10m for public and private sector organisations.
