Buckingham Group soars on record revenue and orders

Aaron Morby 1 week ago
Share

Buckingham Group Contracting navigated the challenges of Covid-19  last year to deliver record revenue of £584m and year-end cash up 57% at £90m.

Mike Kempley says Buckingham is set for another record-breaking year ahead
Mike Kempley says Buckingham is set for another record-breaking year ahead

The Stowe-base contractor is now looking forward to another record-breaking year with strong forward orders and sales predicted to top £625m.

Chief executive Mike Kempley said: “While our head office complex has never been quieter, our work winning teams, based largely from home, have rarely been more active or successful than during the past twelve months.

“The result of this collective endeavor is that at the time of signing off the results, our teams had already secured a record forward order book of £1.03bn. This includes £590m of secured workload for 2021.”

Kempley said: “Together, our teams ensured that only a handful of our people appeared to contract the virus through the workplace, and we can be extremely grateful that throughout 2020, no employees were admitted to hospital as a result of Covid-19.”

While added costs impacted pre-tax profit which dipped to £8.6m from £10.2m previously, net profit margin achieved a higher level than first expected of 1.5%, which Kemply described as an outstanding result.

Much of the jump in orders came from increased activity in the industrial logistics sector, a primary market for the business, supporting both the core civil engineering and building capabilities.

The firm’s HS2 operating division set up last year under Sector MD Simon Hyams, achieved £47m of sales in the year on enabling works.

Buckingham Group has now secured significant future opportunities worth £157m on the national infrastructure project.

Buckingham Group trading by division
2020 revenue Forward orders
Civil engineering £126m £207m
Sport & Leisure £148m £195m
Rail £76m £174m
HS2 £47m £157m
Building £179m £279m
Demolition £8m £16m

 

The firm’s civil engineering division also recently secured Swindon Distributor Road and M1-A6 Link Road schemes.

Looking ahead Kempley said: “Vitally, by remaining customer-facing, nurturing our valuable staff resource and carefully managing the inflationary pressures that are impacting the industry, there is every reason to believe that profit margins will return to the target level of 3% or better in the years ahead.‘’

 

Latest news

EcoWorld London to close construction arm

Developer part-owned by Willmott Dixon restructures
28 mins ago

Bezos firm picks UK to build £300m fusion test reactor

Work will begin in 2022 on large-scale nuclear fusion test facility in Oxfordshire
28 mins ago

Hill bags job to revamp Shredded Wheat Factory

Plans also in for over 1,200 homes in several block around the iconic factory buildings
27 mins ago

HS2 starts search for £500m phase 2a delivery partner

Design and delivery partner will manage design and construction of £4.5bn next leg to Crewe
24 hours ago

Payroll tax cheat ordered to repay £1.7m

Former tax consultant Mike Huges stole £6.9m from construction workers' pay packets
2 days ago

Plans in for £300m Blackpool leisure scheme

Build back better plan to transform town seafront with major visitor attractions
1 day ago

Wates Residential hires London housing veteran for expansion

Nick Williams takes new production director role to deliver growing pipeline of work
23 hours ago

Network Rail unveils next generation of bridges

Lightweight,modular crossing slashes construction times
23 hours ago

Hunt starts for A303 Stonehenge technical consultant

Delivery Assurance Partner role will be worth £60m over five years
2 days ago

Amey suffers £98m loss after further contract provisions

Impact of Covid and future loss provisions set restructuring plan back
2 days ago

Covid blamed for record size of construction disputes

75% of survey says disputes arose from claims specific to the impact of the pandemic
2 days ago

Severfield boasts £300m order book after resilient 2020

Firm says it is continuing to manage steel price and availability challenges
2 days ago

Go-ahead for Liverpool £60m Anfield Road stand

Buckingham Group set to build 16,000-seat stand taking Anfield capacity to 61,000
3 days ago

Crane supervisor hit on head during staircase delivery

Serious accident on £250m Lewisham Gateway phase 2 site
3 days ago

Clarion to build resi scheme at old Boddington’s Brewery site

Construction on 442 apartments in central Manchester set to begin mid 2022
2 days ago

AGD upgrades foundations for Antony Gormley’s ‘Iron Men’

Piling rig shores up iconic statues: Video
3 days ago
AGD Equipment Ltd

EU worker shortages driving up London labour rates

CIS wages start to rise in the Capital ahead of EU Settlement Scheme deadline on June 30
3 days ago

Pagabo readies market for new £1.6bn civils framework

Bidders day for new civils and infrastructure projects framework
4 days ago

Bouygues bags £30m Swansea hi-tech office job

Work to start this summer on 71/72 Kingsway office in city centre
3 days ago

Willmott Dixon to install car chargers at all sites and offices

Charging infrastructure being installed as hundreds of staff turn to electric cars
3 days ago

Trio win £1.6bn Defence Estate hard FM deal

Engie/Serco JV wins two of four regional maintenance and repair deals
4 days ago

Kier wins £17m upgrade of Lewis Hamilton’s old school

Work to start on two new blocks at Saint John Henry Newman Catholic School in Stevenage
3 days ago

Anderson lands £10m Redrow groundworks deal

Latest win tops "superb few months" for residential contractor
4 days ago

Nmcn facing make-or-break refinancing decision

Contractor will "consider its remaining options" if talks fail
4 days ago

Ferrovial UK arm edges into profit after five years of losses

Ferrovial Construction UK returns a pre-tax profit of £1.5m
4 days ago

Emirates Old Trafford cricket ground plan approved

Work to start early next year on final part of Emirates Old Trafford £60m expansion
4 days ago

BAM Nuttall counts on record orders after 24% profit fall

Three-quarters of Nuttall's £3.4bn order book is two-stage negotiated contracts
4 days ago

Bidders day for £1.3bn highways surfacing contract

Industry day to be held later this month for pavement delivery framework
4 days ago

Construction waste boss banned from being a director

Business went down owing a string of suppliers £140,000
7 days ago

Bidding starts for £300m London court and police complex

Salisbury Square Development on Fleet Street will consist of three major building projects
7 days ago

Contractor services