Construction giants colluded to rig £150m of contracts including Selfridges and Oxford University, CMA rules Merciless ruling A consortium of about 10 construction firms illegally colluded to rig bids for £150m of major contracts, according to provisional findings by the UK competition watchdog. The Competition and Markets Authority (CMA) said eight of the firms involved in the cartels have admitted to taking part. The rigged contracts for demolition services included work for [...]
Speedy Hire confident about future following strong final performance SPEEDY HIRE The board of construction company Speedy Hire has announced it was confident about future performance following a strong set of final results. In the year ended 31 March 2022, the group’s revenue went up 16.3 per cent to £381.7m, while its adjusted profit before tax soared to £30.1m, 72 per cent up on the previous [...]
Marshalls posts record revenues as £535m Marley Group takeover reaps benefits Marshalls Landscaping firm Marshalls has posted record revenues while its £535m takeover of Marley Group continues to reap the benefits. In the first four months of 2022, Marshalls’ group revenue went up 7 per cent to £201m, with £137m of public sector and commercial sales accounting for 68 per cent of the group”s total. The group’s [...]
Government slammed as ‘for NIMBYs, by NIMBYs’ as planning reform watered down May 10, 2022 The government has been criticised after references to planning reform focused on “minor and trivial issues” in the Queen’s Speech. Property bosses and campaigners have urged ministers to go further with planning reforms. The Institute of Economic Affairs (IEA) accused the government of having “unconditionally surrendered to the NIMBYs.” “The fact that the references to [...]
Landscaping firm Marshalls swoops in for £535m acquisition of Marley Group April 28, 2022 Landscaping specialists Marshalls have swooped in for a £535m acquisition of Marley Group, backed overwhelmingly by shareholders. The FTSE-250 firm agreed the move with 99 per cent of its shareholders, after they helped raise almost £190m to fund the acquisition. Marley, labelled the as the ‘Marshalls of roofing’, will help to shore up the new [...]
Exclusive: Marshalls reaps the rewards from a home improvement boom March 20, 2022 City A.M. speaks with Martin Coffey, chief executive at Marshalls, as the stone and concrete specialists show signs of post-Covid recovery.
Landscaping firm Marshalls back to pre-pandemic levels of profit March 17, 2022 Marshalls, which produces stone and concrete for landscaping, has returned to pre-pandemic levels of revenue and profit. The Yorkshire-based construction firm’s full year results for 2021 include revenue of almost £590m, a 25 per cent increase on 2020, and nearly £50m, more than for 2019, pre Covid. Its EBITDA (earnings before interest, taxes, depreciation, and [...]
Retail and construction insolvencies soar against backdrop of supply chain pressures and war in Ukraine March 15, 2022 Soaring material costs have led to a steep rise in insolvencies in the retail and construction industries of almost 50 per cent. The war in Ukraine and its impact on rising fuel prices, brought concerns over supply chains pressures into sharp focus this week, new research from tax and audit specialists Mazars has shown. During [...]
HMRC owes construction workers close to £1.5bn following pandemic property boom March 8, 2022 Almost £1.5bn is owed to Britain’s construction workers by the taxman following the pandemic property boom, according to new data shared with City A.M. today. It is estimated that more than 1m people working in the sector could be owed a tax refund, after the industry “weathered a particularly fierce storm” to keep Britain building [...]
Construction sector back in boom mode as price increases slow March 4, 2022 After months of heavy price increases, the rapid cost hikes in the construction sector showed further signs of easing off in February, according to fresh data published this morning. Builders reported they were still facing problems in supply chains, and that prices for materials and other inputs rose in February. But the reported rise was [...]