Beard boosts revenue as it braces for market dip

Beard’s turnover grew to a record level in 2025 although its profit dipped slightly, according to newly published accounts.

The Swindon-based contractor’s filing shows revenue rose to £230.2m in the year to 31 December 2025.

This was up from £198.4m in the previous 12 months.

Meanwhile, pre-tax profit fell to £4.5m, having been £5.2m in 2024.

Finance director Fraser Johns said in a statement with the accounts that the firm had outperformed its targets, which he attributed to the strength of the contractor’s partnerships with suppliers and customers, as well as its staff.

He said the year started with strong demand but that there were signs towards the end of the 12 months that market sentiment was becoming less positive.

“To this end and throughout 2025, we have focused on driving efficiency at every level in preparation for a more competitive period ahead,” he said.

Johns said Beard had maintained its cashflow through a combination of factors, including prompt settlement of final accounts and timely release of retentions from customers.

“Close control of our cash ensures we have the right balance between working capital and short-term investments,” he said.

The firm closed the year with net assets of £25.7m, up from £24.6m at the end of 2024, and is free of debt financing.

In mid-2025, Beard told Construction News it was reviewing recruitment plans in light of the increase in employers’ national insurance contributions. Despite this, average headcount over the year crept up from 336 to 370.”

Johns said in the accounts that the company had focused on “retaining our core skills as great builders and ensuring we do not become complacent as we grow the business”.

The firm made one-off charitable donations totalling £4.4m during the year, including £3.6m to Oxfordshire Community Foundation to establish a fund called The Beard Family Foundation, which is independent of the company and the Beard family.

The fund will support staff and family charity activities in the years ahead, Beard said.

Over the course of the year, the company, which has offices in Bristol, Guildford, Oxford, Southampton and Swindon, said it completed 62 projects.

These included Bristol Zoo’s £9.6m African Forest, a £7.5m headquarters for clothing brand Holland Cooper in Cheltenham and an £11.8m Porsche dealership for Dick Lovett in Bristol.