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

McLaren gets green light for 45-storey Leeds tower

Landmark Wellington Square scheme will see 464 flats built with 360,000 sq ft of offices
3 hours ago

Heavy rain causes 1.9% construction output fall

Hopes remain undampened of a resi-led recovery this summer
3 hours ago

Taziker restruture to return to profitability after £1.2m loss

Founders bought the business back from private equity after last year's loss
4 hours ago

£220m London wharf homes scheme approved

285 homes to be built beside protected Albert and Swedish Wharves in Wandsworth
4 hours ago

Major project veteran named civils director for Sizewell C

David Speight previously worked on Hinkley, Heathrow and HS2 client teams
3 hours ago

Morgan Sindall lands £19m Milton Keynes hospital job

Crane lifts to be carefully co-ordinated to ensure air ambulance remains active
17 hours ago

Clancy bolsters civils leadership team

Daniel Tonkin and Simon Hyams join as operation directors of water and infrastructure
1 day ago

Balfour names new project boss for HS2’s super-hub station

Steve O’Sullivan replaces Nigel Russell who was promoted to CEO of Balfour's HS2 ops
1 day ago

Buckingham Group supply chain hit doubles to £256m

Total owed to unsecured creditors soars as surety providers finalise claims
1 day ago

Builders demand an end to police plant bans

Call to suspend all embargoes on moving mobile cranes and large site kit
1 day ago

Green light for £65m Blackpool multiversity campus

Education campus of 350,000 sq ft will be delivered in phases
1 day ago

Vinci signs £138m Sheffield steel forge expansion deal

Sheffield Forgemasters signs landmark contract after two years of pre-construction works
2 days ago

McAlpine hires HS2 programme boss to head defence arm

Armed forces logistics expert Mike Hickson takes role as MD of defence
2 days ago

£200m carbon capture plan for Deeside site

Energy from waste operator enfinium looking to invest in North Wales plant
1 day ago

McAleer & Rushe promotes five staff to contracts directors

Design and build contractor targets £500m revenue next year
2 days ago

Consultant quartet win Government estate upgrade deal

Government Property Agency selects Arcadis, Tetra Tech, AtkinsRéalis and McBains
2 days ago

Resi towers pioneer to transform Liverpool site

Beetham founder Hugh Frost to help develop 1,200 new homes
3 days ago

Construction Manager of the Year crowned

Galliford Try's Barry Kingscote wins coveted prize: Full list of winners
2 days ago

Landsec £250m London terraced office job approved

Skanska tipped for 20-storey Hill House scheme near Fleet Street
3 days ago

Lendlease tops March contracts league

BAM and ISG rank third with big contract wins
2 days ago

Vistry strikes deal with Homes England for 1,000 units

Firm's timber frames factory will supply most of the Midlands houses
2 days ago

Morgan Sindall go-ahead to build 23-storey Salford resi job

Funding deal with CBRE allows latest project on bank of River Irwell to proceed
3 days ago

Unite Students gains planning for London and Bristol schemes

RG Group will build landmark Stratford tower and Freestone Island projects
3 days ago

Rolls-Royce gets go-ahead for 1.1m sq ft expansion in Derby

Major expansion of Raynesway campus planned to met submarine fleet orders
3 days ago

GMI Construction edges back into profit

A year of controlled consolidation helped generate £0.9m profit but cash at bank dropped to £10m
3 days ago

Balfour gets final sign-off for HMP Highland at £209m

Deal struck for delayed Inverness prison after costs rocket
4 days ago

Renew buys bridge maintenance business

Contractor boosts highways division with £5m acquisition
3 days ago

HS2 tests market for £150m mass transit job

2.4km long elevated Automated People Mover to go out to tender in 2026
3 days ago

Cardo completes fourth acquisition in a year

Expanding Welsh building maintenance specialist reaches £170m turnover
4 days ago

Watchdog clears Heidelberg takeover of Mick George

Four quarries and five ready-mix operations to be sold to meet competition concerns
4 days ago

Contractor services