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 [...]
The future of infrastructure needs artificial intelligence and new ways of working January 15, 2019 During our morning commutes to work, many of us will grumble about unreliable trains, packed tube carriages, or too much traffic on our highways. And yet, despite these complaints, we tend to keep a stiff upper lip and bear with the current state of infrastructure, rather than question how things could become better. But if [...]
Constructor Watkin Jones builds on solid year to post record profits January 15, 2019 Accomodation construction firm Watkin Jones’ share price rose this morning after it posted record profits profits and a 24-site pipeline of projects over the next three years. In its full-year results, the AIM listed company said director of the board Mark Watkin Jones was stepping down today, having been replaced as chief executive on 2 [...]
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) [...]