BW counts cost of pandemic but predicts better 2022

Fit-out specialist BW said the ongoing impact of the pandemic sent revenue falling again last year.

The company said it had been expecting revenue to be around the 拢220m mark in 2020 but this finished at 拢180m that year, down from 2019鈥檚 拢201m, and slipped further back last year to 拢145m. Around 拢125m of its revenue came from London with the remainder from the South-east.

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Most of the firm鈥檚 work is centred on London

The firm said income would be up this year with its secured turnover already at 拢180m by the middle of this month.

BW made a pre-tax loss of 拢177,000 last year from a profit of 拢4.6m in 2020, although a tax credit of 拢5.2m helped it turn in a post-tax profit.

The firm said it had a cash balance at the end of the year of 拢20.5m, down from 拢22.7m, and claimed just over 拢80,000 from the government鈥檚 Coronavirus Job Retention Scheme, compared to the 拢529,000 it was handed the year before.

It added that it repaid a 拢5m Coronavirus Business Interruption Loan last year.

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