BBC failings to blame for Eastenders set revamp delay, report finds March 20, 2019 The delayed and over-budget project to rebuild the Eastenders set was doomed from the start due to management failings by the BBC, a government report has found. A damning report by the Public Accounts Committee (PAC), published today, states the BBC underestimated the scale and complexity of the E20 project, which is now £27m over [...]
Marshalls shares race to record high: What now? March 19, 2019 | City Talk Up 78 per cent since we backed them, the shares are still not expensive and the business is in great shape. Marshalls (LSE:MSLH) is an easy company to like. It makes things we all use on a daily basis, and it makes them well. Despite Brexit and a weak construction sector, its concrete paving slabs have [...]
Balfour Beatty: UK’s largest construction firm returns margins to ‘industry standard’ March 13, 2019 Balfour Beatty’s turnaround plan has returned the once troubled construction firm to “industry standard” margins, according to chief executive Leo Quinn. The biggest constructor in the UK reported an increase in profits and an order book growing more than a tenth year-on-year in its 2018 results, prompting shares to rise 1.2 per cent in morning trading. [...]
Costain drops more than £200m in revenue as chief executive calls time March 6, 2019 Costain chief executive Andrew Wyllie will retire after 14 years at the helm, the construction company said today. Wyllie will be replaced by Alex Vaughan, managing director of the firm’s natural resources division, on 7 May after an annual general meeting. Read more: Costain awarded Network Rail contract for 'Meerkat' technology But the news was [...]
Builders look to old and young to will in gaps from foreign workers after Brexit February 24, 2019 The construction industry may have to entice older employees not to retire as foreign labour dries up after Brexit, an industry body has said. The Construction Industry Training Board (CITB) said its members must attract new talent through more apprenticeships and welcoming under-represented groups. Read more: MJ Gleeson defies Brexit blues with surging profits But it [...]
Laing O’Rourke announces third straight year of losses as refinancing details revealed February 19, 2019 Construction firm Laing O’Rourke has finally announced the details of a long-awaited refinancing deal, at the same time as reporting its third straight year of losses. The firm said it has refinanced its UK operations with a £177m revolving credit facility which will see it through to the end of 2021. Read more: Construction output [...]
Housebuilder MJ Gleeson chief executive: ‘Our customers do not give a damn about Brexit’ February 14, 2019 MJ Gleeson’s profits have surged while other housebuilders are struggling to break even because its customer base is unfazed by the Brexit uncertainty gripping some buyers, according to its chief executive. Speaking to City A.M., CEO Jolyon Harrison said the firm’s profits had risen 62.8 per cent because “our customers do not give a damn [...]
Construction output drops sharply in December against ‘grim’ industry backdrop February 11, 2019 Construction output has dropped sharply in December in an industry “stripped of confidence and momentum”. According to the latest Office for National Statistics (ONS) figures, output fell 2.8 per cent month-on-month in December, driving a longer-term stagnation of 0.3 per cent in the final quarter. Read more: Eurozone construction sector endures 'sluggish' start to the [...]
Regional construction activity booming despite Brexit gloom, says Deloitte February 5, 2019 Construction activity at four major regional UK cities is at record levels, despite uncertainty around Brexit causing industry growth to falter, according to research. Accounting firm Deloitte’s regional crane survey covering Leeds, Birmingham, Manchester and Belfast showed growing activity across sectors including projects building office space, hotels, retail sites, education facilities and student housing. Read [...]
Scaffolding provider Arena Events’ shares crash down to earth on disappointing trading update January 17, 2019 Scaffolding provider Arena Events shares collapsed today after announcing operating issues in its UK business that have reduced profitability. The company’s stock was down 31.9 per cent on Thursday afternoon after blaming the issues on a number of one-off contracts, plus a delay in receiving the benefits of a planned integration of three British warehouses. Read [...]