Order book fuels optimism at Bardsley
BARDSLEY Construction began the year with a strong order book despite recording a loss in 2012.
Newly-filed accounts for Bardsley Construction Holdings show slim margins left the Dukinfield-based business with a pre-tax loss of £243,000 in the year to December.
This compared to a £2.5m pre-tax profit in the prior period which covered 17 months due to a restructuring at the business which split its property development and construction arms. Development is now handled by Bardsley Homes.
During the period sales were up to £32m from £29.1m and the company said it had an order book of £35m by March 2013 which represented 85% of its target for the year.
The firm, which employed 150 during the year, works with a number of different housing assocations and public sector bodies through 11 different framework agreements.
The holding company also controls Genesis Capital Funding, Bardsley’s alternative to the public finance initiative which uses private funds to build public sector projects. It said Genesis had a potential pipeline of work worth £600m.
The group’s banking facilities, worth nearly £5m, have been renewed until December 2015. The Royal Bank of Scotland unit West Register (investments) holds some 45% of the business.
