Barhale boosts funds as it looks to rebuild turnover

Grant Prior 4 months ago
Share

Barhale has secured an £11m refinancing package as it looks to boost business as water companies ramp-up spending plans.

Latest results at parent company Barhale Holdings show turnover dipped to £110m for the year to June 30 2021 from £142m last time in line with major clients’ spending plans.

But pre-tax profits were up at £1.3m from break even last time and the civils giant has also secured a new funding deal to power future growth.

Chief executive Martin Brown – who joined the firm from Keltbray last year – said: “We have again demonstrated Barhale’s ability to navigate the economic and operational market conditions that our industry has faced.

“Across our water sector client base, which includes Anglian Water, Affinity Water, Portsmouth Water, Severn Trent Water, Thames Water, and Yorkshire Water, we are now seeing strong levels of activity and an almost universal forecast of things only getting busier through the remainder of the AMP period.

“We also successfully continue to deliver projects for National Grid, Network Rail, Thames Tideway and North London Waste Authority and our focus on building long-term relationships has translated into a very strong current order book of almost £1bn.

“While the group saw turnover fall, it was in line with expectations and reflected the typical pattern of revenue flows in the early stages of the water industry’s AMP7 cycle when there is an emphasis on planning and design.

“Benchmarked against the same period in the AMP6 cycle the group has seen an almost 35% uplift in turnover. As we move into the key delivery phase, we fully anticipate that uplift continuing and tracking into topline growth.”.

“Since my arrival, I have been working closely with the board to look for opportunities to strengthen the senior operations team. We are very pleased to have appointed a new operations director and we are in the process of recruiting a new engineering director who will support the development and growth of our rail infrastructure business.

“As we move into 2022, this performance will be a foundation for the implementation of our new five year business strategy which will increase both resilience and sustainability to our systems, processes and the way we plan, construct and commission our projects.

“This in turn will offer a greater service to our clients across the water, transport, energy and built environment sectors, and provide solid foundations for diversification and sustainable growth.”

Barhale’s refinancing package was arranged by specialist FRP.

Latest news

Hunt starts for £250m Stockport 8 site developer

Town centre 8-acre site is earmarked for 1,200 homes, shops and leisute
3 hours ago

Water industry revives PFI model for £1bn job

Vast Haweswater Aqueduct upgrade to pilot new DPC model, hailed as the future for water companies
8 hours ago

VolkerRail fined £550,000 after trench collapse

Court hears how two metre deep excavation was unsupported
10 hours ago

Plans in for £500m Hollow Mountain pumped hydro scheme

Work removing 2m tonnes of rock could start within two years
7 hours ago

‘Ratty the Robot’ takes bite out of costly pipe inspections

Pipe-crawling tetherless robo-rat makes light work of complex underground inspections
8 hours ago

Graham gets green light for £124m M25 Junction 28

Consent allows work to start this Autumn on Essex junction upgrade
23 hours ago

Six win £600m panelised housing DPS deal

Better Building alliance of 29 housing associations signs up manufacturers
10 hours ago

Watkin Jones reports record £2bn pipeline

Student rooms and BTR builder plans corporate name change in big rebrand
9 hours ago

Race starts for £500m Scottish zero carbon hospital job

Bidding starts for new University Hospital Monklands near Airdrie
1 day ago

Manchester airport taxis out £60m terminal 2 pier job

Bidding to start before the end of 2022 for project start early next summer
1 day ago

Plan for 1,100-home complex at Leicester factory site

Galliford Try investments plots Corah Factory transformation
1 day ago

Axed House by Urban Splash staff plan legal action

Ex-workers consult with lawyers following administration
1 day ago

Summer slowdown fears as latest contract award data droops

Latest Barbour ABI Snap Analysis paints uncertain picture
1 day ago

Farrans wins £39m Somerset recycling hub

Site preparation gets underway for Keynsham Recycling Hub
1 day ago

Balfour gets green light for £250m M25 junction 10

Autumn start for M25 junction 10/A3 Wisley interchange improvement scheme
4 days ago

Leeds plumbing contractor sinks with loss of 30 jobs

Dickinsons Plumbing and Heating goes down but renewables arm salvaged in sale
4 days ago

HS2 achieves first diesel-free construction site

Skanska Costain STRABAG JV runs Kilburn site with green kit
4 days ago

Administration confirmed at House by Urban Splash

160 jobs lost following "operational issues" at modular factory
5 days ago

Network Rail fined £1.4m after worker crushed by track machines

Judge highlights "many layers of failure" within site management
5 days ago

Kier picked for £350m Leatherhead regen plan

Property arm to draw up plans to redevelop two large town centre sites
5 days ago

Two seriously injured in London steelwork collapse

Two steel erectors left fighting for their lives after collapse at Ardmore site
6 days ago

Urban Splash modular staff start looking for new jobs

Work stops at House by Urban Splash factory and housing sites
6 days ago

Building facade specialist CMS goes into administration

Building envelope firm had turnover of £43m
6 days ago

Office work uplift returns construction output to growth

New commercial work drives output uplift for the first time since the pandemic
5 days ago

More suppliers wanted on £683m waste power plant

Meet the buyer event for North London Heat and Power Project: Register now
6 days ago

Vistry Partnerships lands £128m London flats deal

Legal & General signs up firm for 480-flats over five buildings in Wandsworth
6 days ago

HS2 Project Bank Accounts “not worth paper they are written on”

Subcontractors furious after payment protection promises evaporate in wake of Roadbridge collapse
6 days ago

Taylor Wimpey to tear down half-built £48m Hackney Wick scheme

Concrete frame to be demolished after discovery of "potential structural issue"
6 days ago

Data centre work lifts TClarke orders to record high

Orders hit £585m, more than £100m on last year
6 days ago

BAM lands largest ever fit-out job

Firm to fit-out landmark 12-storey Edinburgh St James Quarter 'ribbon' hotel
1 week ago

Contractor services