Travis Perkins shares slide as building site closures hit profit September 8, 2020 Shares in Travis Perkins dropped this morning after the builders’ merchant reported a huge decrease in operating profit for the first half. The figures Travis Perkins reported revenue of £2.8bn in the six months to the end of June, down 20 per cent on the same period last year. Adjusted operating profit plunged 80 per [...]
Ashtead sees profit fall a third as construction recovery slows September 8, 2020 Construction equipment hire firm Ashtead saw profit fall over a third in the first quarter as the coronavirus pandemic squeezed building activity around the world. Despite what it called a “resilient” performance over the coronavirus lockdown period, revenue and profit both fell in the period. Shares slipped nearly one per cent as markets opened. The [...]
Construction sector growth slows as new work dries up September 4, 2020 Growth in UK construction output slowed in August as subdued order books put the brakes on the sector’s coronavirus recovery. The headline IHS Markit/CIPS UK Construction Total Activity Index registered 54.6 in August, down from 58.1 in July. It marks the third consecutive month of growth in construction output — indicated by any figure higher [...]
Navigating the UK’s economic recovery – a sector analysis September 4, 2020 We are living through extraordinary economic times. There is no hiding from the fact that this is a deep recession, and one that provides ample risk for investors. Recent GDP figures paint a gloomy picture and suggest that it will take some time for the economy to fully heal from Covid-19. The good news is [...]
The future of the construction industry is digital September 4, 2020 The double-whammy of a pandemic and a recession has made 2020 one of the most challenging and disrupted years in living memory. But the bright spot, in an otherwise battered economy, is construction, which forms a major part of Prime Minister Boris Johnson’s ”Build Back Better” campaign. Britain’s construction industry grew at the fastest rate in almost [...]
Build back better? No, let’s build back smarter and take carbon out of construction August 27, 2020 Boris Johnson has set out his plans to “build back better”, and major changes have recently been announced to planning regulations to enable faster decisions on planning applications. It sounds like a developer’s paradise. But construction already accounts for nearly two fifths of UK carbon emissions, so where does that leave the government’s equally vaunted [...]
AIM-listed Infrastrata swoops for historic Devon shipyard August 25, 2020 An historic shipyard in Devon is set to reopen after it was bought by AIM-listed Infrastrata in a deal worth £7m, in a rare boost for the UK’s manufacturing sector. Appledore shipyard, situated on the River Torridge near Bideford, shut last year when defence giant Babcock decided that the site had no future. However, the [...]
Balfour Beatty joint venture secures £1.3bn Hong Kong airport deal August 24, 2020 Construction firm Balfour Beatty this morning announced that its south-east Asia joint venture has won a HK$12.9bn (£1.27bn) contract to expand Hong Kong International Airport’s Terminal 2. Under the four-year deal, Gammon, of which the FTSE 250 company owns 50 per cent, will increase the size of the main terminal building and construct the surrounding [...]
New Thames Estuary development plan could add £115bn to UK economy July 21, 2020 The Thames Estuary growth board has today launched a new development initiative that could add up to £115bn to the UK economy. Named the “Green Blue”, the scheme comprises 30 individual projects in the south-east, with the potential to create 1.5m jobs. These include infrastructure developments such as the Lower Thames Crossing, as well as [...]
Morgan Sindall lands £250m Lewisham Gateway development deal July 14, 2020 Construction firm Morgan Sindall has received £252m in funding from private landlord Get Living to complete the Lewisham Gateway redevelopment project. The development, which is expected to be completed in 2023, will 649 rentable properties, as well as a combined 50,000 square feet of shops, restaurants and office spaces. It will also contain Lewisham’s first [...]