City

Speedy blames irregularities on former employees

Speedy Hire claims that the financial irregularities it uncovered last November – and which led to the resignation of former chief executive Steve Corcoran – were the result of “deliberate action” by a small number of people, all of whom have left the company.

Costain goes for £75m placing despite order book growth

Costain saw its forward order book rise by 25% to £3bn last year – but has still announced plans to raise £75m through a share placing to fund future contracts and working capital.

Kier says results justify May Gurney bid

Kier says its latest interim results show that its decision to take over May Gurney in June last year was fully justified.

Travis Perkins to invest more after strong 2013

Travis Perkins says it is so confident about the outlook for 2014 that it is planning to increase its capital expenditure by at least £20m to between £130m and £150m this year as it rolls out new stores and concessions.

Morgan Sindall still has doubts for this year

Morgan Sindall said upward pressure on supply chain costs and skills availability will continue to present challenges in the market this year, as it posted a very mixed set of full-year results for 2013.

Galliford Try posts record profits

Galliford Try has posted record first half pre-tax profits of £38.1m, up 18% on the year before on revenue which has also risen 18% to £803.5m.

International business still drags on Speedy

Speedy Hire says its international business is continuing to disappoint, although it says UK performance in the past quarter mean that it will still meet full-year market expectations.

Acquisition takes Patrick Parsons to over 100 in six years

Stewart and Harris, which was established in 1981 and currently employs 26 staff, has built up a strong client base including Telford College of Art & Technology, Bamfords Trust, Kier Partnership Home

Record first half still leaves Alumasc cautious

Building and engineering products supplier Alumasc has had a record first half, with underlying pre-tax profits up 11% to £3m even on a 4% drop in revenues to £57.2m.

New arrival quickly moves up to top job at Speedy

Mark Rogerson, who joined Speedy as chief operating officer in December, has been promoted to chief executive.

BB order book stays flat

Balfour Beatty says continuing negative foreign exchange movements and a shift in its construction business from the UK to the USA means its overall order book for 2013 is unlikely to be much different from the £13.5bn it achieved in 2012.

William Davis forges ahead after 15% profits rise

East Midlands-based housing developer William Davis says it is to start work on seven new sites in the early part of this year, after revealing a 15% rise in pre-tax profits for the year to the end of May last year.

Restructure mastermind leaves Mouchel

David Shearer, the man who led Mouchel through a restructure that included it going briefly into administration in late 2012, is to step down from being chairman at the end of next month.

Galliford Try 'to post record profits'

Galliford Try says it expects to post a record half year profit for the last six months of 2013, while a strong performance from its construction division means an expected rise in net debt has not been as steep as anticipated.

New Persimmon homes rise by 30%

Persimmon says responding quickly to a sharp increase in its weekly sale rates at the end of last year helped it complete 6,506 new homes in the second half – 30% up on the same period the year before.

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Features

2017-05-31 13:33

The rate of Insurance Premium Tax (IPT) will rise by two per cent on June 1 to 12 per cent on all non-exempt transactions. Martin Bennison, managing director at construction finance firm Ultimate Finance, explains what this means for UK construction companies.

2017-05-25 08:41

Building Information Modelling (BIM) is growing in popularity and is now mandatory for centrally funded public-sector projects. Experts and the curious are gathering more and more frequently at dedicated congresses, exhibitions and workshops. Many people are now asking: Where does the UK stand on the issue of BIM and the digitisation of the construction industry?

2017-05-10 10:47

Opening site doors to more females is vital to plugging the construction skills gap, reports Claire Cameron

THE construction industry continues to be plagued by a well-documented skills gap with some suggesting the shortage could get worse before it gets better.

2017-05-08 14:27

If you work on a building site, are self-employed or have a zero-hours contract, you might be surprised to know you work in the ”gig economy”. This is the economy characterised by temporary work and irregular hours, pay and working conditions.

2017-03-29 10:31

Jeremy Gould, VP sales Europe, TomTom Telematics, discusses how technological developments in vehicle telematics have opened up new workflow management possibilities for the construction industry

2017-03-21 09:31

With the demand of oil increasing, it’s estimated that the Earth will reach its full capacity for oil consumption at some point within the next 20 years. This is despite the production of oil decreasing, and the construction industry is no exception to this, reports Niftylift.

2017-03-17 10:55

With construction firms leading the way in drone technology, Claire Cameron takes a closer look at how unmanned aerial vehicles (UAVs) can be used onsite

2017-03-07 16:20

While the physical safety of workers is prioritised on construction sites, mental health is often overlooked, reports Claire Cameron

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