REVENUE at Nelson’s Barnfield Construction fell by £3.2million, the firm has revealed in its annual accounts.
But bosses said a flurry of contracts won this year will help the firm recover.
The developer, which has a partnership with Pendle Council, recorded sales of £33.9million in the year to December 31, a fall from £37.2million the year before.
Overall profit fell, from £2.88million to £2.76million, something which the company put down to ‘tough negotiation’.
Tim Webber, managing director of Barnfield, said: “I’m confident this year we will be back up to the turnover levels we were achieving prior to the start of the recession.
“We have battled through our third recession since formation in 1976 and we’ve pleased to have won several contracts in the first quarter of what promises to be a successful year.
“Over the last 30 years in business we’ve seen highs and lows within the property market but it has seemed to slow down an awful lot faster than other times.
Ironically, sales and lettings on industrial space are still good.
“We’ve had to change our direction slightly, 75 per cent of the turnover was made up of our own speculative development work with 25 per cent being work for clients, but we now work on a 50/50 basis.”
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