Barhale confident about 2019 after positive set of results

Barhale is confident about the coming year after posting a positive set of results for the 12 months to June 30 2018.

The latest numbers filed at Companies House show turnover up to £185.6m from £121.7m last time as pre-tax profits also increased to £3.1m from £2.1m.

Gross margins dipped to 6.55% from 10% as turnover increased on lower margin contracts.

Barhale is a leading player in the water sector and is looking to play a “major part” in the upcoming AMP7 round of spending.

Turnover also grew in the power sector and on major transport projects where Barhale picked-up work on the Midland Metro and HS2.

Barhale CEO Matthew Behan said: “These are a strong and pleasing set of results driven by a good performance across our operations.

“In particular, we have continued to build deep and positive relationships with our water utilities clients.

“Additionally, in line with our five year strategy, we have been delighted with the progress made in energy utilities and in rail infrastructure where we have secured projects with both HS2 and Midlands Metro.”

Barhale was also confirmed as winning contractor by Transport for West Midlands this week for a new £1.5m entrance at Birmingham’s Snow Hill Station.

Behan added: “Much of our success is underpinned by our people development and engagement focus.

“We believe our progressive, people-first attitude means that every member of our team feels valued and understands the difference their contribution makes to fulfilling our business goals.

“This is paying a clear dividend and we will be looking to further enhancing this element in the coming year.

“Looking forward, we have gone into the new financial year with a strong order book and optimism about the continued strength of the sector.

“That said, we are mindful that we are not immune to the challenges the sector faces not least in resources, skills and supply chain and their close management will be a priority through 2019.”

from Construction Enquirer http://www.constructionenquirer.com/2018/12/19/barhale-confident-about-2019-after-positive-set-of-results/

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