Construction firm Beard reports robust 2021 results

16 March 2022

Beard, the family-owned construction firm, has reported robust business performance with growth of 6% in 2021.

Full year accounts published for the year ending 31 December 2021 show pre-tax profits of £4.2m in line with the previous year. Turnover for 2021 totalled £144m as the business returns to pre-pandemic levels.

Beard financial director Fraser Johns said the company’s performance was a tribute to the strong supply chain the company had developed prior to the challenges of the pandemic, and these relationships remain a key focus for the business.

“As a responsible business, Beard has always treated our suppliers and contractors fairly and has paid promptly for materials and work,” he said.

“This tradition of doing the right thing, coupled with strong financial controls within the company, meant that Beard was well positioned to cope with the supply chain issues that impacted the construction sector in 2021, and are likely to continue in the coming year.

“We would like to thank our people and all those in our supply chain for helping to ensure that our projects were delivered successfully last year, and we look forward to their continuing support as we move into 2022 with a healthy project pipeline.”

Beard, which was established in 1892, has offices in Swindon, Guildford, Oxford and Bristol. The company undertakes design and build, new build, restoration and refurbishment, and last year completed a total of 59 projects. Highlights included:

• The £20 million redevelopment of St Hilda’s College in Oxford;
• A state-of the-art training facility for Bristol City Football Club;
• The Archway Project in Bath, comprising a new World Heritage Centre and The Roman Baths Clore Learning Centre;
• A six-storey student accommodation block at the former Gaumont Cinema site in Bristol;
• A £5m new senior school building at Crosfields co-educational, independent day school in Reading;
• The redevelopment of the landmark Quadrangle building in Cheltenham, which includes the town’s first ever rooftop restaurant.

Projects that were commenced last year by Beard included restoration of the UK’s oldest lido at Grade II* listed Cleveland Pools in Bath; renovation of the Grade II* Royal West of England Academy building in Bristol; construction of a new specialist primary school for deaf children in Newbury, Berkshire; and development of thirty student rooms at the Frewin Annexe of Brasenose College in Oxford.

Environmental performance for the business also improved during the year as Beard reduced carbon emissions by 9% (per £1m turnover) compared with pre-pandemic levels in 2019.

Fraser Johns added: “We are more committed than ever to drive down carbon emissions and invest further in strategies to remove carbon from our atmosphere. Whilst we’ve taken significant steps to ensure our energy is procured from renewables, we’ve seen the biggest impact in the introduction of flexible working which has significantly reduced travel time between offices.”