“The financial year ending in June 2023 was focused on consolidating our position as a reputable regional contractor in South Wales and the South-West. Throughout the year, we remained committed to providing a high-quality service to all our clients, to establish long-term repeat business relationships. To achieve this objective, we worked hard to implement operational and commercial improvements and efficiencies in our business processes. We believe that the implementation of these changes, along with continued investment in technology and our workforce, will enable us to achieve our short to medium-term goals and pursue future opportunities with confidence.”
Nathan Holmes, Financial Director
Over the year, BECT achieved an overall turnover of £61.693m, a significant increase from 2022 (£41.770m). Operating profit and profit before taxation achieved the business plan, producing a result of:
Operating profit before exceptional items: £4.140m (6.7%)
Profit before taxation: £2.705m (4.4%)
The business plan for 2024 aimed to achieve an overall turnover of £52.5m and deliver operating profit and profit before taxation that is consistent with the levels achieved in the previous financial years. The operational and commercial performance at the site level has remained consistent, and good progress continues on all schemes. Although the revenue is expected to be below £50m for the year, the contract awards for large schemes in Cardiff, Swansea, and Reading mean that the business is well-positioned to trade at levels that align with the medium-term business plan.
