Bardsley's focus reaps rewards

BUILDING company Bardsley Construction doubled its underlying profit in 2009 after focusing on education and social housing during the collapse of the private housing market.
By The Newsroom
Published 13th May 2010, 21:21 BST
Updated 13th May 2010, 21:22 BST

The Manchester-based company, which opened a second office in Leeds last month, achieved a pre-tax profit of 3.3m in the 18 months ending December 31, 2009 – an equivalent 12-month value of 2.2m

The 12-month figure is double the 1.1m reported for the previous year ending June 2008.

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Turnover for the 18-month period was 85.6m – an equivalent 12 month period value of 57.1m, which rose slightly compared to 57m in the previous reporting period.

Stephen Purkis, group finance director, said: "When many companies have failed due to working capital difficulties, we have de-risked our balance sheet and have increased our cash balance by 2.8m".

The financial reporting period has been extended to 18 months due to a business review ahead of a corporate restructuring in 2010.

Wayne Bardsley, chairman of Bardsley Construction, said: "As with any business, Bardsley faces risks but by identifying and managing these we were able to improve our performance."

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