Margins suffer at Bowmer & Kirkland
June 03, 2019 – uynxx Family-owned contractor also reveals it has new chairman
Bowmer & Kirkland saw its margin drop by 1.1% as its turnover marched closer to the £1bn mark in the year ended 31 August 2018.
The Derby Arena contractor, one of the country’s largest family-owned construction firms, saw turnover increase by £10m to £938m but pre-tax profit dropped 15% to £54.5m.
It lost £2.8m on the disposal of Decatur Electronics, a US-based firm specialising in speed guns.
The group’s overall margin for the year, which includes its operations in construction, development and building services, stood at 5.8%.
But the value of its net assets increased by £35m to £436m, while its end-of-year net cash position rose by almost £95m to £409m.
In its accounts, B&K also confirmed it had a new chairman, Jack Kirkland, with his father John and uncle Robert having stepped down on 1 January this year after spending 52 and 45 years respectively working for the business.
According to this year’s Sunday Times Rich List, the Kirkland family is worth £585m.