Bardsley confident Genesis will end land of confusion
BARDSLEY Construction has said that its order book for 2012 “looks strong” despite cuts being made to public sector procurement programmes.
The company, which underwent a restructuring last year that saw its development arm hived off into a separate business trading as Bardsley Homes, reported a pre-tax profit of £2.5m on turnover of £29.1m during an eight-month trading period to the end of 2011.
The firm said that constraints on the public purse since the 2010 Comprehensive Spending Review “continue to adversely affect our work sectors”.
“However, the order book for the contracting business looks strong with a secured order book in excess of £31m as at May 2012,” said director Roly Bardsley. “This is equivalent to 73% of targeted turnover for 2012.”
Mr Bardsley also said the Dukinfield-based firm was continuing to develop its Genesis Equity business, which is an attempt to match private sector cash for public sector schemes. He said it has a potential pipeline of projects work £600m.
“The Genesis business case has been presented to Government bodies such as the Homes & Communities Agency, Young People’s Learning Agency, Skills Funding Agency, Department for Education, Partnerships for Schools, NHS Monitor and HM Treasury, including a detailed response to the PFI Reform Initiative Call for Evidence.
“All feedback has been positive and a number of projects are currently moving to formal procurement.”
Turnover for the company’s main subsidiary, Bardsley Construction, fell by 25% to £45.6m (2010: £60.7m) as a result of it decision to hive off the development arm, but its balance sheet improved as net assets increased by £2.1m to £7.8m.
He added that its first satellite office in Yorkshire, which was opened two years ago “now rivals the North West office for contracts opened and secured”. The Leeds-based office has secured places on framework agreements for organisations such as YorBuild and the University of Bradford.
