2021 financial results

26th May 2022

  • Turnover: £145m
  • Profit after Tax: £5m
  • Net assets: £21.6m

Following significant project delays resulting in a reduced turnover in 2021, we experienced a good start to 2022. Currently we have £180 million in secured turnover for 2022 and are projecting £220 million for the full year. We have welcomed over fifty new workplace experts to our fold this year. Revenue is projected to exceed 2019, our best year, when we achieved £201 million.

BW is a privately run company that continues to maintain a strong balance sheet for investment in the future development and growth plans for the business and its net assets at 31 December 2021 have increased to £21.6 million compared with £18.3 million in 2020.

The geographic spread of our turnover continues to be generated from the South-East of England, within the commercial office sector and education sectors and is split as follows:

  • Generated within London postcodes: – £125m (2020: £151m)
  • Generated outside London postcodes: – £20m (2020: £29m)

Earlier in 2022, BW and Bulb Laboratories announced they have entered into a new agreement to jointly deliver high-value research, innovation and manufacturing facilities in the science and technology sector. This move reflects the demand and interest from laboratory users, property investors and owners for real estate of this kind. We are also benefitting from our alliance with our strategic partners.

Responding to the needs of our project manager clients, BW this year launched a Design and Build service, built with leading players from that sector, and recently secured our first project. We anticipate steady growth from this team as we build a portfolio of projects offering Design and Build with the integrity and quality of service clients have come to expect from the BW brand.

We also repaid our £5 million coronavirus business interruption loan at the end of 2020.

Thank you to all of our employees, clients, consultants and subcontractors for a great year and we look forward to working with you on projects in the future.

If you would like to discuss the above or an upcoming project with one of our experts, please get in touch.