Building materials group SIG impacted by ‘challenging’ construction market January 8, 2019 Building materials group SIG’s shares dropped seven per cent this morning as warned a “challenging” construction market had chipped away at its performance. The FTSE 250 company, which provides roofing, cladding and insulation materials for construction projects across Europe, reported a drop in revenues of 4.7 per cent for the second half of 2018. The [...]
Can Interserve clean up its mess, or is it destined for the same fate as its failed rival Carillion? December 11, 2018 It feels like we’ve been here before, doesn’t it? It was almost a year ago when outsourcing giant Carillion collapsed, and now there are some worrying signs that rival FTSE firm Interserve could wind up suffering the same fate, serving a huge blow to UK businesses and the livelihoods of its 75,000 employees. On Sunday [...]
Rising client demand provides foundation for solid construction activity growth in November December 4, 2018 UK construction activity grew at the fastest rate in four months in November, driven by positivity in the house-building and commercial sectors, but Brexit uncertainty continued to hamper firms’ hopes for the future. The IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 53.4 last month, up on October’s reading of 53.2. The figure [...]
British builder Kier Group confident of meeting full-year expectations with results weighted towards second-half of financial year November 16, 2018 Kier Group has announced that it is confident of meeting its full-year expectations ahead of its AGM today, with the full-year results being weighted towards the second half of the financial year. The FTSE 250 listed company have said it will continue to focus on operational cash generation and reducing net debt as part of their Future Proofing Kier (FPK) [...]
England housing stock increases but housebuilders still fall short of target November 15, 2018 The number of new homes completed in England in the last year reached its highest level in a decade, but growth has plummeted as Brexit uncertainties take hold. Just over 222,000 more homes were added to England’s housing stock in 2017-2018, according to figures released today by the minister of housing, communities and local government (MHCLG). [...]
UK company insolvencies jumped nearly 20 per cent in the last quarter October 30, 2018 Company insolvencies leapt 19.3 per cent in the third quarter compared to the same quarter last year. Data from the Insolvency Service shows company insolvencies increased 8.9 per cent in the quarter to the end of September compared to the previous quarter. A total of 4,308 companies entered insolvency in the third quarter, with 3,083 (71.6 per [...]
As Laing O’Rourke is late filing its figures, is it another major contractor we should be concerned about? October 24, 2018 Pinning down the finances of private companies can be a tricky task for City stakeholders. Public companies, however, are mandated to keep investors and other interested parties entertained with a steady stream of financial updates. When it comes to filing financial statements – the audited figures upon which financiers hang their hats – listed firms [...]
Rics: Construction industry grows amid buoyant workload levels October 18, 2018 The UK’s construction sector remains buoyant in the wake of rising workloads and a renewed growth in infrastructure activity, according to a closely-followed survey from the Royal Institution of Chartered Surveyors (Rics) out today. In the last three months 20 per cent more chartered surveyors reported a rise rather than a fall in their workloads, [...]
Theresa May’s crude policy is the wrong way to manage immigration October 11, 2018 The government's announcement of a new immigration policy post-Brexit has at least the merit of providing a clearer sense of direction – assuming Brexit happens and does so in a reasonably orderly way (which are some big “ifs”). The news also provides an opportunity to think, from first principles, what a sensible immigration policy should [...]
British construction growth sags to six-month low October 2, 2018 Output growth from the British construction sector sagged to its lowest level in six months in September as civil engineering projects stalled, according to a closely followed indicator. The construction purchasing managers' index (PMI) fell to 52.1 points in September, down from 52.9 in August, according to data firm IHS Markit. Civil engineering output, such [...]