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Sat November 16 2024

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Bardsley grows on back of restructuring

26 May 11 Manchester-based Bardsley Construction Group saw a 13% rise in turnover in 2010 on the back of a restructuring designed to protect it from government spending cuts.

Turnover in 2010 reached £64.8m, up from £57.4m in 2009.

Pre-tax profits before exceptional items were £2.3m, down from £2.5m in 2009. Gross profits were up 2.6% to £6.4m.

Cash in the bank at year-end was up £2m to £5.8m.

A restructuring of the group has split the contracting business from the development arm.

Chairman Roly Bardsley said: “This year has been extraordinary in different ways. We have successfully restructured and refinanced after two years of intense work. “

The refinancing was with Royal Bank of Scotland.

Mr Bardsley added: “It has been an expensive and distracting process but one which sets us up perfectly for the climb out of recession and into better times.

"Bardsley Construction Group has been in business for more than 45 years, during which time the company has faced many different challenges, none more so than the recent recession and the government's comprehensive spending review. However, we believe we have faced these challenges head-on and have had one of the best trading results in the company's history."

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