Ardmore predicts bumper 2021 after strong rebound

Aaron Morby 4 years ago
Share

South east contractor Ardmore is set to rebound from the Covid slowdown with a record turnover this year.

The firm is the latest in a growing band of contractors to predict a bumper 2021 after the travails of Covid last year.

Managing director Patrick Byrne said Ardmore Group was on course to deliver record revenue of £389m with gross margin expected to be in line with previous trading.

He said: “The group will remain fully active in its core markets offering customers a viable route to designing and building their residential, commercial and mixed-use schemes.

“The market is tough, but the group remains focused on being competitive while not surrendering to the bad habits of the past nor a market habit of racing to the bottom.”

His comments came after Ardmore published accounts for the year to September 2020.

The group managed to weather the lockdown and restricted working patterns to deliver a 29% rise in revenue to £273m, while holding pre-tax profit at nearly £11m.

In another milestone for Ardmore net assets passed £50m for the first time and year-end cash was up 50% to £90m.

Latest news

Ridge buys rival consultant Jubb

Acquisition will see 100 new staff join Ridge
4 hours ago

Enabling works to start £130m Huyton town centre regen

Phase one includes a new council HQ, hotel and 72 flats
5 hours ago

Grainger build to rent pipeline rises to £1.4bn

Rental specialist buys sites in Sheffield and Cardiff to build 600 rental homes
5 hours ago

Kier wins Cambridgeshire County council estate upkeep

Firm will provide building and M&E services to 106 buildings across the county
4 hours ago

Louvres and solar shading specialist files for administration

Hampshire based ALPS lodges court notice after 25 years in business
5 hours ago

Speedy Hire posts a loss in latest results

Hire giant confident of better performance in next six months
5 hours ago

Esh to lead next phase of Riverside Sunderland regeneration

Infrastructure work will allow further development of Sheepfolds area
4 hours ago

Green light for £1.3bn Edinburgh coastal town revamp

First phase of Granton Waterfront scheme will see Cruden Homes create a new community
22 hours ago

Vistry chief operating officer steps down

Earl Sibley exits as his COO role axed for more direct reporting to CEO
1 day ago

House builder Camstead goes into administration

Work stopped on three current sites
2 days ago

Death of piling legend Roger Bullivant

Industry innovator dies after long illness aged 85
1 day ago

ESS Modular went down owing suppliers £7m

Modular specialist owned by ISG owner Cathexis
1 day ago

Builders back farmers in inheritance tax protest

"A rethink is desperately needed" say National Federation of Builders
1 day ago

Willmott Dixon wins £36m leisure centre upgrade

Work to start on historic Westminster 1930s Grade II listed Seymour Centre
1 day ago

Graham wins £100m Cardiff Crossrail phase 1

Work on route to Cardiff Bay to start before end of next year
2 days ago

Laing O’Rourke appoints new European MD

Peter Lyons to take-up new role in February
3 days ago

Profits dip at Stepnell ahead of demerger

Turnover and secured workloads up ahead of restructure
3 days ago

HS2 green bridge deck takes shape

100m-wide wildlife bridge to carry hedgerows and country lane over HS2
2 days ago

1,000-home Wolverhampton city centre scheme in for planning

ECF and council advance City Centre West build to rent scheme
3 days ago

Sisk clinches £54m North London council HQ revamp

Haringey's iconic Grade II listed civic centre to be brought back into use
3 days ago

Ofgem approves £2.5bn Eastern Green Link 1

Work to start next Spring on cable project from Scotland to the north of England
3 days ago

Anglian Water hunts for £1bn delivery partner

Programme delivery partner wil integrate with client team over 15-year plan
3 days ago

Hadden collapse costs supply chain £6.7m

"Highly unlikely" subcontractors will receive anything for their unpaid invoices
3 days ago

Management buyout at M&E specialist

£25m turnover Kimpton in second MBO in its 60-year history
3 days ago

BAM finalises £71m deal to replace first major RAAC school

Work to start on new St Leonards Catholic School in Durham
3 days ago

Scaffolder hit by two tonne weight at nuclear plant

Court hands out £633,000 in fines after Dungeness B decommissioning incident
3 days ago

Go-ahead for 860,000 sq ft East London medical campus

Whitechapel Road scheme of six new and repurposed buildings
3 days ago

Site labour rates hit record high as cost inflation returns

Industry's biggest payroll firm says rates rose nearly 5% last month in London
6 days ago

Morris & Spottiswood acquires part of ISG fit-out division

ISG Cathedral acquisition saves 111 jobs and expands presence across England
7 days ago

New work drives Q3 construction output uplift

Third quarter activity up 0.8% despite slowdown in September
6 days ago

Contractor services