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B&K turnover approaches £1bn as profit rises

Bowmer & Kirkland has posted a 10 per cent increase in revenue alongside a 53 per cent rise in pre-tax profit in its latest financial results.

The Derbyshire-based contractor saw revenue rise close to £931m for the year to 31 August 2016, up from £848m in its previous results.

The majority of turnover was from UK projects, with £12m coming from the firm’s operations in the US.

Pre-tax profit also saw a significant increase, rising 53 per cent to £61.5m from £40.2m a year earlier.

The group’s cash position also increased by 8 per cent, with the company now holding net cash of £268m at the end of the year, while headcount grew 3 per cent to 1,337 from 1,298.

Chairman John Kirkland said there had been “a reassuring upturn” in the construction sector since the start of B&K’s financial year, adding that it would be actively looking to invest in more joint venture opportunities in the year ahead.

The contractor formed a JV with Urbo Regeneration in October 2016 to deliver the £175m West Bar Square project in Sheffield, which will provide 700,000 sq ft of office space and 500,000 sq ft of residential apartments, as well as a four-star hotel and retail units in the city centre.

The project secured outline planning consent in February this year.

Major contract wins so far this year include a £100m deal to build a leisure-led, mixed-use scheme on a 1.9 ha site in Crewe town centre, while the group also signed a contract to deliver the new £50m Landmark building in central Manchester (pictured).

It also beat rival bidders Vinci and Interserve to a £20m revamp of the former Altrincham Hospital in south Manchester, while also bagging a £23m deal to build a 13-storey hotel for client Hotel Indigo in Manchester city centre.

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