Civil engineering specialist Barhale has maintained controlled growth and profitability in its latest financial results through ongoing cost control and risk management.
Turnover for the year ended 30 June 2024 was £177 million, a 32 per cent increase on the £133 million achieved in the previous year, generating a pre-tax profit of £8.4 million, a return of 4.76 per cent.
There was also an improvement in the company’s net cash position of £24 million.
Barhale said the results were driven by the completion of several major projects during the period as well as a good performance across all areas of the business.
Recent contract awards, including from AMP8, contributed to an order book value of more than £1 billion, with more long-term frameworks anticipated.
“We are now three years into our five-year plan, and we have been very disciplined in following it closely throughout,” said chief executive, Martin Brown.
“During the last financial year, we focussed heavily on cost control, progressive assurance and proactively managing risk.
“This focus has allowed the business to maintain controlled growth and profitability while we continue to deliver against our clients’ expectations.”
Barhale also recently acquired specialist design organisation ESL, to improve its client offering and direct delivery model.
ESL will complement Barhale’s in-house construction services, enabling it to apply value engineering principles at the earliest stage of project engagement, while growing its own interests within the water, rail and civils sectors.
“The ESL team has established a reputation for buildable solutions which combine value engineering principles with design and construction innovation and their provision will sit alongside our existing design relationships, able to support all of our construction works with both civils and MEICA design capabilities,” said Brown.
“Looking forward, we remain committed to our five-year business plan. Years four and five will see an increased focus on driving innovation, programme management and engineering assurance to enable the next stage of sustainable growth.”
Was this interesting? Try: London skyscraper same height as The Shard approved
If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.