Construction firm reveals robust full-year results – despite pandemic

Construction firm Beard has posted financial results revealing a resilient performance despite the challenges faced by the sector in 2020.

In the year to December 31, 2020 the Swindon-based company made £136 million in sales and £3.5 million profit while holding a strong cash balance with zero debt on its books.

During the year the family-run firm completed a total of 31 projects, including the iconic Swindon Carriage Works and a brand-new training facility for Premiership Rugby club Bristol Bears.

It also continued to win new work, which most recently included University of Oxford’s Rhodes House development worth £24 million, and two developments for Signature Senior Living across the South East worth £25 million.

The company said its strong financial performance is due in part to Beard’s operational resilience throughout the pandemic, as at the height of the lockdown it continued to work on more than 90 percent of its sites.

Financial Fraser Johns said: “At Beard we were able to face the challenges raised by the coronavirus crisis with a good level of resilience, thanks to our history and culture of being a responsible business.

“As a result, we were able to deliver for our customers and continue to win new work during the year, ensuring a strong platform for 2021.

“It’s testament to the hard work and dedication shown across the business that we have come through 2020 together and can now look ahead to the rest of 2021, beyond the pandemic, with cautious optimism and confidence.”

Pictured: The new Emily Garden Museum at Castle Cary in Somerset, built by Beard Construction