But family-owned contractor sees cash pile jump to more than 拢480m

Pre-tax profit at Bowmer & Kirkland fell more than a quarter last year but the firm managed to increase its net cash position to more than 拢480m.

One of the country鈥檚 largest family-owned construction firms, B&K said profit slipped to 拢53.2m in the year to August 2020 from 拢73.2m.

Peterborough ARU

Source: ARU

The campus in Peterborough is being built for Anglia Ruskin University

Turnover was up 4% to 拢1.1bn with its cash balance up to 拢482m from 拢447m at the year end. It said the value of its net assets rose to 拢508m from 拢475m.

The firm, which is building a 拢35m university campus in Peterborough, did not say why profit fell but all contractors have had to fork out in the past year to make sure they meet new site operating procedures caused by the covid-19 pandemic.

According to last year鈥檚 Sunday Times Rich List, the Kirkland family is worth 拢595m.

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