Contractor says its cash reserves have helped it navigate “challenging” markets
Bowmer & Kirkland has posted a 17% jump in pre-tax profit in robust results for the year to August 2014.
The firm’s pre-tax profit grew to £27.1m, up from £23.1m, while revenue increased 11% to £733m.
The Derbyshire-based firm said it had been boosted by the “steady” recovery in the construction industry and ended the year with cash reserves of £194m.
John Kirkland, chairman at Bowmer & Kirkland, said the company’s cash position enabled them to “secure additional construction work in a competitive market”, as well as continuing to provide equity funding to finance developments and invest in joint venture opportunities.
He added that “markets remained challenging”, but the firm was starting to see improvement.
Major recent projects delivered by the firm include Derby Arena (pictured), which opened in March this year.