Mark Beard
Family-owned construction firm Beard has declared itself “well placed” to weather the coronavirus pandemic, after a strong set of financial results for 2019.
The company recorded an 8% increase in pre-tax profits to £5m last year, while turnover rose by 6% to £159m. The company also cut its average invoice payment time from 29 days to 27 days.
Among the projects the contractor completed during the year was the £14m construction of a new spa at South Lodge in Sussex, construction of new toll houses for the Clifton Suspension Bridge in Bristol, and delivery of a new 72-unit accommodation building for students at Somerville College in Oxford.
Speaking about Beard’s response to the pandemic, chairman Mark Beard, who will assume the CIOB presidency in July, said: “Safeguarding the health and safety of staff and contractors is of paramount importance to us. We are taking all necessary steps to ensure we minimise the risk posed by the ongoing covid-19 outbreak, in line with guidance from the government and the Construction Leadership Council.
“We are in constant dialogue with clients, our supply chain and our wider stakeholder group to ensure they are fully apprised of how we are managing what is an unfolding situation.
“At a time like this, financial results seem relatively insignificant. I am confident, however, that our strong balance sheet means we are well placed to weather the coronavirus storm.”
