Buckingham Group turnover tops £500m for first time

Aaron Morby 1 month ago
Share

Buckingham Group Contracting broke through £500m sales for the first time last year as stadium work supported steady rises in building and civil engineering workload.

Buckingham has secured Fulham's new riverside stand

While revenue jumped by a fifth to £507m, margin slipped below the firm’s 3% target to 2%, due to tighter markets conditions and some challenging contracts.

This saw pre-tax profit slide to £10m from a restated £14m. Pre-tax profit from 2017 was adjusted down by £1.8m after a contract review identified extra losses on two legacy contracts.


Looking ahead, the group saw forward orders rise 16% to a record £730m and now has secured close to £470m of £510 targetted sales for this year.

The stronger order book reflected orders for larger-scale sports stadia, with an opportunity pipeline exceeding £4bn.

Group managing director Mike Kempley said: “Looking forward to 2019 and 2020, there is a stable foundation of work that will be delivered by our existing frameworks.

“The continued focus on diversification has provided a number of new and exciting opportunities based on dismantling and asset recovering services, developed over the past 12-18 months, with the potential to provide new long-term opportunities for growth.”

Buckingham’s primary source of workload in the past three years came from general building, civil engineering sectors and the rail industry.

The upturn at the specialist sports and leisure division is now expected to continue for several years.

Revenue at the division climbed to £100m, with Buckingham securing a trio of pre-construction serves agreements, including the new £100m Riverside Stand for Fulham FC and the Swansea Arena.

The improved performance saw year-end cash edge up to £65m.

Latest news

Construction braced for freelance tax disruption

Self-employed professionals face major contractor move back to PAYE
1 hour ago

Rain halts BAM’s Carlisle flood defence job until Spring

Wet weather in August and September blamed for pause on £25m scheme
1 hour ago

Bristol student tower block trio approved

Work expected to start at Temple Island midway through next year
2 hours ago

Atkins names ex-HS2 ops boss as UK chief executive

Richard Robinson will lead Atkins UK's 10,000 strong team
19 hours ago

Procurement bodies team up for new consultants framework

North West and Southern framework groups call up multi-disciplinary consultants
2 hours ago

Materials giant sees brick and block sales weaken

Bison precast business hit by contract delays
2 hours ago

Wates kicks off York council house building programme

£27m Lowfield Green scheme will see 140 homes built
2 hours ago

L&G commits to £750m affordable homes investment

Affordable homes division hires former Capco director to deliver 3,500-home pipeline
18 hours ago

ISG names new UK construction chief

Zoe Price promoted to chief operating officer for construction
1 day ago

Interserve set for £36m Walsall hospital A&E upgrade

Work to start in April next year at Walsall Manor Hospital
1 day ago

London council to overhaul £370m housing upkeep

Lambeth council to give residents say in policing delivery by contractors
1 day ago

Carpenter falls through gap in safety deck

Badly installed safety system did not cover whole work area
1 day ago

Fusion21 launches £250m energy efficiency framework race

Firms installing PV panels, cladding and LED lighting called up for new framework
1 day ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
1 year ago

Construction safety test cheats caught in police raids

Crooked test centres in answers for cash scandal
4 days ago

Demolition giants land places on £50m framework

Housing Association Notting Hill Genesis confirms eight winners
4 days ago

Green light for £79m “Mancunian” tower

Planners approve major city centre regeneration scheme
4 days ago

FEC starts £470m Isle of Dogs twin tower project

JRL starts piling work on 65 and 35-storey hotel and flats project
5 days ago

£200m Lancashire waste incinerator approved

Heysham Gateway energy recovery facility will create 350 construction jobs
4 days ago

Common prequal standard adopted for HS2 subcontract bids

Main works civils contractors adopt new PQQ system to cut supply chain costs
5 days ago

Westridge to restart stalled Brighton Dome revamp

Contractor wins race to replace Britain's oldest builder on £21m renovation job
5 days ago

Laing O’Rourke returns to profit

Britain's biggest private contractor returns a £33m profit after stemming losses in Canada
5 days ago

Vast Elizabeth House London scheme to start next year

HB Reavis gets planning go-ahead for 1.2m sq ft project beside Waterloo Station
6 days ago

Digger driver jailed after builder crushed by excavator bucket

Ten month sentence after worker killed in trench
5 days ago

Winvic margin falls as revenue jumps 29% to £628m

Pre-tax profit drops a third to £20m as shed builder boosts workforce for growth
4 days ago

Interserve signs off £13m Oldham cultural hub deal

Firm lands heritage and art centre project where Gilbert Ash held a pre-construction services agreement
6 days ago

William Birch lands York housing scheme from local charity

Construction to start later this year on apartments for visually impaired people
5 days ago

Winner picked for £250m ‘Harrods of Bayswater’ job

London's Whiteleys shopping centre to be redeveloped
6 days ago

No win no fee service launched for construction disputes

New service to create "level playing field" for smaller contractors considering adjudication claims
6 days ago

Alun Griffiths lands £85m Cornish link road

Construction could start next year on St Austell scheme
6 days ago

Contractor services