Buckingham Group soars on record revenue and orders

Aaron Morby 3 years 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

Morgan Sindall to build former Willmott Dixon leisure job

New contractor appointed on
14 hours ago

Graham consortium wins £400m Manchester job

Equitix consortium to now work up DBFO plans for University of Manchester’s Fallowfield Campus
11 hours ago

Keltbray looking to sell infrastructure business

£378m turnover rail, energy and highways business up for sale
21 hours ago

Innovative viaduct building method used for first time in UK

HS2 contractors will build nine viaducts in Delta Junction using special cantilevered process
22 hours ago

Unite buys London site to fast-track 444-bed student scheme

£800m to be spent on London development pipeline in next five years
22 hours ago

CITB awards £2.5m of contracts to management consultant

Three outsourced deals in the last year for "project leadership and management consultancy"
22 hours ago

Village centre approved for 6,000-home new town plan

Hampshire's Welborne Garden Village plan has been in the pipeline for two decades.
21 hours ago

£3m fine after cherry picker demolition death

Court rules after tragedy during decommissioning of gas rig
22 hours ago

BAM plans wave of job cuts at UK Construction arm

Co-op Live arena plunges Bam Construction to £19.5m first-half loss
2 days ago

Robot tunnel builder goes into administration

Hypertunnel was hoping to revolutionise how underground structures are built
2 days ago

Wates to build £86m Guildford Council housing scheme

40% of the 248 homes will become council homes under partnership deal
2 days ago

“Scrap CITB” say three quarters of construction firms

Payroll giant Hudson Contract calls for CITB to be absorbed into new Skills England training body
2 days ago

£100m Prestwich Village revival approved

Vinci and Willmott Dixon in chase for Muse-led regeneration scheme
2 days ago

Carbon negative asphalt aggregate trialled on M11

Skanska and Tarmac test CO2 absorbing aggregate material on stretch of Essex motorway
2 days ago

Father and son sentenced over covid construction loan fraud

Bristol builders given suspended jail sentences over bogus Bounce Back Loans
2 days ago

Beck Interiors files administration notice

Supply chain has suffered delayed payments from £139m-turnover luxury fit out specialist
3 days ago

Green light for York Central civil service office hub

£60m office project accelerates York Central goods yard redevelopment
3 days ago

Blenheim House Construction enters administration

Administrators looking at options on present projects
3 days ago

Profits rise at Esh Group with more to come

Contractor confident about year ahead as market conditions move in right direction
3 days ago

Piling specialist Van Elle sees housing orders rise 30%

Mark Cutler says firm on course to deliver 10% annual sales growth
3 days ago

HS2 to spend £100m shutting sites where work never started

Remediation of sites no longer needed for cancelled Phase 2 will take three years
4 days ago

Willmott Dixon wins £61m deal for new Army dog unit

Contractor to revamp Kendrew Barracks in Rutland
3 days ago

Stockport advances 4,000-home Town Centre East plan

Council seeks consultants to steer plan for 280-acre area in the city
3 days ago

ISG sale imminent as buyers set-up UK holding company

South African nutrition entrepreneur and Australian partner primed to take over
4 days ago

CR Construction wins £210m Manchester towers

Construction to start next year on four blocks ranging from nine to 34-storeys
4 days ago

Southern Housing to rationalise supply chain following merger

Firms put on alert for £1.7bn construction framework renewal
4 days ago

Decision delayed on 52-storey Isle of Dogs tower

Hong Kong developer plans 460 flats block next to Millwall Inner Dock
4 days ago

Go-ahead for £850m North London estate rebuild

Flagship Edmonton housing estate redevelopment will deliver 2,000 new homes
4 days ago

Mace lands £184m Oxford Science Park contract

Contractor to build trio of laboratory and office buildings
5 days ago

Worker paralysed in 30ft fall during electricity pylon demolition

Specialist firm fined £240,000 after court hears linesman attached lanyard to a loosened steel section
4 days ago

Contractor services