Construction heavyweight in ‘solid’ shape despite slump in trading profits

Derbyshire construction group Bowmer + Kirkland saw its trading profits slump by around 22% to £47m during the year to August 2022, according to newly filed accounts – but says its performance was nonetheless “solid.”

Turnover at the Belper firm remained stable at £1.15bn, while its pre-tax profits dipped marginally to £63m. The group upped its headcount during the period and said staff turnover was low during the 12 months.

In a statement, chairman Jack Kirkland said Bowmer + Kirkland’s construction divisions had “again performed well in all sectors and in all regions” and praised the contribution of director Paul Lomas, whose “character… sense of fairness… positive spirit and desire to partner with clients and sub-contractors alike” had shaped the company and “made it much the better.”

Lomas has retired after 43 years with the company, 22 of which were spent as group construction director.

Kirkland cited the success of the group’s development arm Peveril Securities as a key contributor to its performance and said its homeland security businesses in the UK and US had enjoyed a “decent” year despite widely reported market challenges.

Bowmer + Kirkland’s strong cash position continues to enable it to act quickly in seeking equity funding opportunities, Kirkland added.