CRH earnings grow despite bad weather as constructions markets bounce back August 23, 2018 Building materials company CRH has seen earnings rise despite severe weather conditions as the construction market bounces back. The world's second largest construction supplier reported sales of €11.9bn in the first half of 2018 – one per cent up on the same period last year- its underlying earnings were also one per cent up at [...]
Sharp rise in profits and asset values as John Laing Group’s share price jumps August 23, 2018 Infrastructure investor John Laing Group’s share price climbed more than eight per cent in early morning trading, as the firm posted a rise in both net asset value (NAV) and profits for the first half of 2018. The FTSE 250 company’s NAV hit £1.51bn by the end of June, compared with £1.12bn in December last [...]
Southend Airport owner Stobart Group makes trio of appointments following bitter boardroom dispute August 23, 2018 Stobart Group, the troubled owner of Southend Airport, today appointed a woman to its board as it looks to rebuild after a fierce boardroom row at the company. The firm said it would appoint the co-founder of PR agency Citigate Dewe Rogerson, Ginny Pulbrook, as a non-executive director from 1 October 2018. Its shares grew five per [...]
Construction industry breaks records as employment levels climb August 22, 2018 The UK’s construction industry enjoyed bumper levels of employment last year, as the value of new work hit its highest level on record. More than 1.3m construction workers were employed and new work was worth £109m in 2017, smashing pre-crisis levels as a result of private sector growth, according to the Office for National Statistics (ONS). [...]
Costain enforces high-tech approach as profits blossom August 22, 2018 Costain Group reported growing profit margins this morning in the wake of a business shift towards technology-driven markets. Underlying profit climbed to £22.8m during the first six months of 2018, rising eight per cent from the same period in the previous year. The FTSE Small Cap infrastructure contractor announced an eight per cent hike in [...]
Carillion was ‘like a Ponzi scheme’ and inadequately scrutinised by government, top auditor says August 22, 2018 Carillion was “like a Ponzi scheme” and was inadequately scrutinised by the government, the UK's longest-serving auditor general has said. Sir John Bourn said he was “appalled” at the government for continuing to hand the outsourcing giant contracts, such as HS2, despite warnings. The outsourcing company, which had hundreds of public contracts that ranged from [...]
Warm weather adds sunshine to Grafton Group profits despite flat expectations August 22, 2018 Builders’ merchanting business Grafton Group posted a nine per cent revenue rise in the first half of 2018, despite warning that overall conditions in the UK market were set to remain flat for the rest of the year. Revenue climbed to £1.45bn in the six months leading up to the end of June, as the [...]
Capita poaches Go-Ahead finance boss amid restructuring plan August 21, 2018 Outsourcing group Capita has snapped up the chief financial officer of transport group Go-Ahead to head up its own finance division. The company, which runs London's congestion charge scheme and collects the UK's TV licence fee, will announce the move of Patrick Butcher later this week according to reports from Sky News. Butcher will takeover [...]
Uber nabs former Merrill Lynch CFO as top finance boss in race to go public August 21, 2018 Ride-hailing giant Uber today filled the long-standing vacancy of chief financial officer, easing investor concerns ahead of its plans for an initial public offering (IPO) in 2019. The spot, which was left empty after its previous occupant Brent Callinicos departed in 2015, has been plugged by financial services veteran Nelson J. Chai. Chai joins Uber [...]
Flying taxis could be heading for London as German aviation firm opens discussions with the City August 21, 2018 Flying taxis transporting people around London could soon become a reality after a German aviation company said it was looking at how its autonomous vehicles could work in the City. Volocopter unveiled its air taxi infrastructure for cities – including landing stations on top of buildings, hotels, at transport hubs and shopping centres – earlier [...]