The private firm has published half-year results for the first time in response to the exceptional challenges from the pandemic.

Sales for the period remained stable at £72m (H1 2019: £75.3m) with pre-tax profits of £1.4m (H1 2019: £1.7m).

Beard ended the first six-months to June with a strong cash balance up nearly £8m to £37.4m and zero debt on its books.

This was driven by strong progress and several project completions, a focus on securing retention releases and the adoption of cash protection measures.

Despite the hard lockdown from March until June, Beard completed a total of 31 projects, including the Swindon Carriage Works and a training facility for Premiership Rugby club Bristol Bears.

This was delivered on time and on budget in spite of the restrictions placed on the project as a result of Covid-19.

This year the company has taken a strategic approach to focus on education, healthcare and heritage and has also moved into new sectors such as care homes.

Despite the pandemic, it has had a strong run on winning new work. This included the University of Oxford’s Rhodes House development worth £24m and two developments for Signature Care Homes across the South East worth £25m.

Chairman Mark Beard said: “Our results show that our balance sheet remains very strong and we have a healthy cash position.

“It has never been more difficult to predict the year ahead. However, we are confident that these results demonstrate our financial resilience and the long-term sustainability of the business.

“So, we can look ahead to 2021 with a good level of confidence.”