Jack Kirkland
Independent developer and builder Bowmer & Kirkland has hailed a “solid financial performance” in the year to 31 August 2018, as it drove revenue up to nearly £940m.
The company reported a rise in turnover of 1% over the period, reaching £938m, up from £928m the year before.
Pre-tax profit stood at £54.5m, down from £64.4m the year before. In 2018, the company achieved an operating margin of nearly 6%.
Chairman Jack Kirkland thanked his staff as well as group construction director Paul Lomas, after the business performed well in all regions and sectors. He also paid tribute to his father John Kirkland and uncle Robert Kirkland, who took a step back from day-to-day responsibilities at the start of the year.
During the year, the group bought Cambridge-based mechanical and electrical services business Munro Building Services, while it sold Decatur Electronics in the USA.
Jack Kirkland said: “My father joined the family business in 1967 and shortly afterwards, together with his father (who was then managing director) mortgaged themselves up to the maximum to prevent the company from going public and instead guaranteeing it was 100% owned by the Kirkland family – something my cousins and I will ensure will always be the case.
“The growth of the business since my father and uncle joined has been nothing short of phenomenal. In 1978 our turnover was £8.3m; 10 years later it was £148m; this year it is approaching a billion. Every single subsidiary company reported on this set of accounts was established or acquired since my father and my uncle joined the company.”
