Most Contractors Report Increased Revenue During 2007

by George Waldon  on Monday, Sep. 22, 2008 12:00 am  

An ownership shift transformed Little Rock's Bell-Corley Construction Co. into Boyd Corley Construction. Matt Bell, a co-founder of the firm, sold his interest in the venture to Boyd Corley and Shawn Tyler.

Bell's last year with the company, which he and his brother-in-law Corley formed in April 2001, was a good one. Revenue hit $42 million in 2007.

The one-year leap of 45 percent was the biggest recorded by contracting firms in our list, propelling the company from No. 14 to No. 10.

A healthy 34 percent revenue gain to $33.5 million pushed Hill & Cox Corp. of Hot Springs from No. 17 to No. 15. Little Rock's Flynco Inc. reported a nice 33 percent increase in revenue to $38.5 million.

More Records

It was a record year for Little Rock's VCC, where 2007 revenue reached $710 million (12 percent growth) and positioned the company at No. 1.

"2008 is going to be a good year because of all the business already booked," said Sam Alley, CEO of Little Rock's VCC firm. Retail for 2009 "is a little slow, but institution, hospitality and education are looking good."

Alley said the company is going to focus on more Arkansas projects in the coming months. General contractors around the state and region are looking for the state's K-12 school sector to generate a strong book of business during the next six to eight years.

"School construction is still the best market we're seeing in terms of consistent business," said Bob Shell, CEO of Little Rock's Baldwin & Shell Construction Co. "Some of the other markets are slowing just a little bit, but it's still pretty active."

Shell said the flow of jobs has slowed as the firm awaits building plans from architects who wait for design decisions from owners with slippery schedules.

"We have $100 million worth of business that might not start till late this year or early 2009," he said, adding that 2009 revenue "could very well drop below $100 million."

Revenue at Baldwin & Shell reached $147.7 million in 2007, an increase of 22 percent that ranked it No. 4.



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