Barnfield confident of recovery
Nelson-based Barnfield Construction expects turnover to leap from £35.9m in 2011 to £55m this year after a strong series of contract wins.
Barnfield's turnover has halved from its pre-recession peak in the past two years due to the poor market, says Tim Webber, managing director. He adds: "I'm confident this year we will be back up to the turnover levels we were achieving prior to the start of the recession. Through hard work and determination we have battled through our third recession since formation in 1976 and we're pleased to have won several contracts in the first quarter of what promises to be a successful year."
Historically, the developer-contractor had 75% of its construction orders supplied by its own speculative development work with 25% for third-party clients. That has now balanced closer to 50:50.
Wins in the first quarter included a £2m contract with bed maker Sweet Dreams, new premises for Pilkington in St Helens and housing in Rossendale funded by the Homes & Communities Agency.
Barnfield is currently on schedule to develop more than 1.25m sq ft of industrial space for developers and occupiers in the next 12 months.
