Privately-owned building contractor Bowmer & Kirkland saw only modest turnover growth in the year to 31st August 2024 but profits surged.
Turnover was up by a below-inflation 4% to reach £1.29bn (2023: £1.24bn).
Pre-tax profit was up 29% at £68.7m (2023: £53.4m.)
Operating profit was up 45% to £35.4m (2023: £24.3m).
Net assets grew during the year to £632.7m (2023: £591.8m) and the cash balance also improved to £485.3m (£2023: £458.8m).
Bowmer & Kirkland’s national coverage has also been strengthened recently by the establishment of offices in Bristol, Cambridge and Glasgow.
“With our strong balance sheet and excellent staff, we stand well placed to serve our clients, withstand difficult times and take advantage of opportunities that present themselves in the years ahead,” said chairman Jack Kirkland.
An interim dividend for shareholders – the Kirkland family trust – of nearly £8.4m was declared by the directors at year-end. The prior year interim dividend of £6.7m was paid during the year (2023: £10.1m).