Contractor says its cash reserves have helped it navigate 鈥渃hallenging鈥� markets
Bowmer & Kirkland has posted a 17% jump in pre-tax profit in robust results for the year to August 2014.
The firm鈥檚 pre-tax profit grew to 拢27.1m, up from 拢23.1m, while revenue increased 11% to 拢733m.
The Derbyshire-based firm said it had been boosted by the 鈥渟teady鈥� recovery in the construction industry and ended the year with cash reserves of 拢194m.
John Kirkland, chairman at Bowmer & Kirkland, said the company鈥檚 cash position enabled them to 鈥渟ecure additional construction work in a competitive market鈥�, as well as continuing to provide equity funding to finance developments and invest in joint venture opportunities.
He added that 鈥渕arkets remained challenging鈥�, but the firm was starting to see improvement.
Major recent projects delivered by the firm include Derby Arena (pictured), which opened in March this year.
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