“2022 represented another solid financial performance in line with the business aspirations, despite the industry facing several unprecedented challenges. Throughout the year we maintained our focus on providing a high-quality service to all our clients and have continued to deliver a sustainable business strategy that seeks to reduce risk, eliminate uncertainty and is founded upon reliable income streams and strong client relationships.”
Nathan Holmes, Financial Director
Over the year, BECT achieved an overall turnover of £41.770m, consistent with that of 2021 (£41.998m). Marginal improvements were achieved in both operating profit and profit before taxation, producing a result of:
Operating profit before exceptional items: £3.297m (7.9%)
Profit before taxation: £1.910m (4.5%)
The business plan for 2023 was set to achieve an overall turnover of £52.500m and deliver operating profit and profit before taxation consistent with the levels achieved over the previous financial years. Due to an order book of over £75.000m under contract at the beginning of the 2023 financial year, further contract awards during the year and strong operational and commercial performance, the result for 2023 is expected to exceed the business plan and achieve a turnover in excess of £60.000m.