Ardmore predicts bumper 2021 after strong rebound

Aaron Morby 2 weeks ago
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South east contractor Ardmore is set to rebound from the Covid slowdown with a record turnover this year.

The firm is the latest in a growing band of contractors to predict a bumper 2021 after the travails of Covid last year.

Managing director Patrick Byrne said Ardmore Group was on course to deliver record revenue of £389m with gross margin expected to be in line with previous trading.

He said: “The group will remain fully active in its core markets offering customers a viable route to designing and building their residential, commercial and mixed-use schemes.

“The market is tough, but the group remains focused on being competitive while not surrendering to the bad habits of the past nor a market habit of racing to the bottom.”

His comments came after Ardmore published accounts for the year to September 2020.

The group managed to weather the lockdown and restricted working patterns to deliver a 29% rise in revenue to £273m, while holding pre-tax profit at nearly £11m.

In another milestone for Ardmore net assets passed £50m for the first time and year-end cash was up 50% to £90m.

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