Family-owned contractor Beard has reported a rise in annual profit after a 10 per cent increase in turnover, but higher costs hampered its performance.
The Swindon-based firm recorded revenue of £198.4m in the year to 31 December 2024, up from £179.4m.
This led to a pre-tax profit of £5.2m, compared with £4.3m the prior year, the firm’s audited accounts showed.
Beard’s finance director Fraser Johns said it had been a “more favourable trading environment” compared to recent years.
However, the contractor’s bottom line was held back by a 10 per cent rise in cost of sales – such as labour and material expenses – to £182.6m, its full accounts revealed.
Administrative expenses also edged up to £11.9m, although the firm ended the year without any bank loan debt.
The contractor, which was ranked 89th in the latest CN100 table, specialises in the education, leisure and commercial sectors.
Its accounts said the firm targets projects worth up to £30m.
Beard completed 43 projects in 2024, with the schemes managed by its offices in Bristol, Guildford, Oxford, Southampton and Swindon.
Schemes completed included a £17m luxury retirement village in Wiltshire and a £16m Porsche dealership in Newport, Wales.
Ongoing projects include the £24.5m redevelopment of Bristol’s One Friary building (pictured).
Beard also opened a new Southampton office in January last year.
The contractor reported that its average time to pay suppliers was 30 days, up slightly from 29 days the year before.
Staff numbers averaged 336 in the year, with the overall wage bill rising by 13 per cent to £27.4m, Beard reported.
The firm finished the year with a cash position of £44.3m, an increase from £33.3m at the end of 2023.
In its accounts, Beard’s directors said they were “positive for 2025” due to “the strong performance” of its current jobs.
The directors recommended dividends of £4.3m in the year, compared with £3.7m the year before.