Beard Construction comments on ONS construction output

Fraser Johns, finance director at Beard, said: “The sector as a whole has certainly started the year with greater confidence and a real sense of optimism, with an increase in new work in January contributing to a rise in construction output. It certainly mirrors what we’re seeing on the ground at Beard throughout the first quarter of the year, with our secured orders at a record high.

“A key factor is shifting sentiment around the future prospects of the market and the economy, with an improved outlook for both giving clients the necessary confidence to commit to new projects. Given the consistent trend of repair and maintenance, we are continuing to see clients taking stock of the assets they have and making any necessary improvements ahead of pure replacement.

“Even as conditions improve and the tide begins to turn, there’s no question pressures still remain. As a result, we continue to stay close to clients and work collaboratively with them and with our supply chain to generate value and navigate the challenges they may face in getting to site. No matter the economic outlook or the prospects of the sector, this should be standard practice for all contractors, nurturing those close relationships and all-important confidence among clients.”

Published: 13 March 2024