{"id":18124,"date":"2023-06-12T00:13:24","date_gmt":"2023-06-12T07:13:24","guid":{"rendered":"https:\/\/essential.construction\/news\/bowmer-kirkland-retains-strong-cash-despite-margin-slip\/"},"modified":"2023-06-12T00:13:27","modified_gmt":"2023-06-12T07:13:27","slug":"bowmer-kirkland-retains-strong-cash-despite-margin-slip","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/bowmer-kirkland-retains-strong-cash-despite-margin-slip\/","title":{"rendered":"Bowmer & Kirkland retains strong cash despite margin slip"},"content":{"rendered":"

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Turnover was stable at \u00a31.15m, while trading profit fell by just over 22% to \u00a347m as overall group margin slid from 5% to 4% in the tighter market.<\/p>\n

But the overall group pre-tax profit remained stable at \u00a363m, down just 3% on the previous strong performance in 2021.<\/p>\n

This was helped by its development arm Peveril Securities which completed several schemes.<\/p>\n

As B&K enters its 100th year this year, chairman Jack Kirkland reported cash up to \u00a3514m creating a platform for continued growth.<\/p>\n

He said: \u201cOur cash position enables us to act quickly, and we continue to seek out equity funding opportunities.<\/p>\n

Kirkland added: \u201cOur construction companies again performed well in all sectors and in all regions.<\/p>\n

In a challenging market, property developments through our Peveril Securities arm and our work with joint venture partners again made a key contribution to our returns, with some long-term projects coming to fruition in the year. \u201d<\/p>\n

Over the year average headcount rose nearly 5% to 1,625 staff.<\/p>\n

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