Finance news
MoD launches £4.4bn estates management procurement
Defence Infrastructure Organisation asks for expressions of interest from contractors
Profit falls 12% at Morgan Sindall
Increasing competition sees contractor income down despite rising revenue
SMEs squeezed out by main contractors
Smaller construction firms have said they are struggling to compete with main contractors
Firms cast doubt on Osborne’s pensions plan
Major contractors say it is ‘highly unlikely’ that institutional investors will invest in ‘large numbers’ in infrastructure
Construction output falls 0.5% at the end of 2011
Housing worst hit by continued turmoil in the industry
CH2M Hill wins £5bn Qatar World Cup
UK firms Mace, Arup and T&T thought to be among those to lose out
Majority of government's biggest projects 'over time and budget'
Major projects supremo admits that less than half of the government’s biggest projects are being delivered ‘effectively’
Higgins waives £340k bonus
AGM postponed as Network Rail chief executive pledges money to level crossing safety fund
New finance model to attract £250m into affordable homes
Private company will raise money from investors for affordable homes
Arcadis chief executive steps down
Leader of EC Harris deal Harrie Noy to depart after 37 years at the firm
Yuanda aims for the top of European market
Yuanda Europe managing director says firm looking to expand market share
Henry Boot says profit will beat expectations
Contractor issues upbeat trading statement ahead of preliminary results in March
Construction to shed 45,000 jobs in 2012
Construction output will fall 3% this year with the loss of 45,000 jobs across the sector, CITB-ConstructionSkills survey finds
Bam wins £20m school job
Havant school is first contract to be awarded under the £4.5bn IESE framework
Forrest reports strong growth
Social housing contractor reports 30% growth in sales and a 16% rise in profit
Edinburgh cans £170m Mitie outsourcing deal
Mitie shares fall 4% following loss of £170m Edinburgh council contract
Wates goes top with 18 wins
Contracts worth £280m saw firm take the lead in December, when overall work dropped in value
Three-quarters of SMEs financially hit by utility delays
Connection delays causing SMEs to lose thousands of pounds, says NFB
AFR open to acquisitions despite £1.2m pre-tax loss
Chief executive says firm would consider buying another architectural practice despite loss
Construction output flat in November
ONS figures show construction output broadly flat in November but down 1.6% on the same period a year ago
Persimmon off to good start with site visitors up 20% on 2011
Trading update says profit set to increase by around 50%
Fears of euro collapse spark overhaul of EU contracts
Concerns have emerged that euro’s fall would render many contracts null and void
Commercial development plummets
Development drops at fastest rate for over two years - decline steepest in London and the South-east
One in five small builders cut staff due to VAT rise
Half of small firms say they have seen a decrease in work over the last year because of higher tax rate
MPs hit out at government PFI policy
Latest reforms run same risk of poor value for money as PFI, says select committee
Interserve reports 'significant profit growth'
Contractor lands £400m of contracts in the past two months
Ardmore wins £49m subcontract on scheme built by rival
Contractor to work on re-started scheme alongside rival United House
CPA warns of gloomy 2012 for construction
Predictions for output revised down and emphasis put on need for strong private sector recovery
Construction activity recovers in December
CIPS data shows warm weather helped deliver workload increase
WSP writes off £7.5m in restructuring
Engineer says market stable but re-sizes UK and Australian businesses
Mouchel set to lose out on £130m contract
Consultant admits it is in talks to exit Rochdale council regen partnership
JCB hands staff £500 bonus and pay increase
Employees will share Christmas bonus of over £2m and receive 5.2% pay increase
British Land appoints Mace to build Broadgate
Make-designed office scheme in the City thought to be worth £225m in total - the largest in London
Morgan Sindall sees £200m fall in construction orders
Firm says pipeline of regeneration jobs has risen sharply
Twenty-one local transport schemes to share £854m
Transport secretary Justine Greening announces funding boost to strengthen regional economies
House sales edge upwards as market steadies
November RICS data shows that prices still falling despite stabilisation
Concrete specialist J Reddington falls victim to hoax administration
Police are investigating after a fake notice was lodged with Companies House
Construction output falls 1.1% in October
October output also down 2.7% on the same period last year
Berkeley profit up two thirds to over £100m
Housebuilder posts strong half-year results, partly thanks to sale of share in Imperial College London scheme
High overheads drive WYG half yearly loss of £2.4m
Engineer set to capitalise on “niche opportunities” from government spending
Carillion to pull out of fitting solar PV panels
Contractor will exit solar PV installation market and outsource future work to SMEs
RICS narrows its financial losses
Group accounts reveal £863,000 loss in the year to July 2011, down 37% on previous year
Carillion takes £20m hit on FITs lay-offs
Contractor says cost of restructuring energy business will double
Mouchel appoints fourth chair in three months
Troubled consultant to bring in turnaround specialist David Shearer to lead firm
Morgan Sindall opens Cumbria office to bid for nuclear work
The office will be staffed by between 10 and 20 people
Government to spend £4bn through project bank accounts
Cabinet office minister Francis Maude backs paying supply chain firms directly
Battersea power station to fall into administrators hands
Banks demand over £500m of credit be returned forcing a likely sale of the iconic building
Pension fund vehicle to be set up 'within four months'
Government to create platform for £20bn of institutional investment in infrastructure schemes
Danny Alexander to chair infrastructure committee
Announcement comes as detailed 500-strong pipeline of works published
Osborne sets £40bn ceiling for credit easing
First £20bn of SME finance will be made available over the next two years
Austin-Smith:Lord thrown financial lifeline
Architect may be able to stave off entering an agreement with creditors as third party offers future funding
Government to pledge extra £600m for school buildings
Chancellor will announce new funding in tomorrow’s Autumn Statement
Crossrail awards £500m station contracts
Bam, Kier and Balfour Beatty among firms chosen for Whitechapel and Farringdon jobs
CPA calls for public service cuts to fund construction
Products manufacturers say next week’s autumn statement needs to stimulate the economy
ONS defends output figures
Economist tells Building that critcisim of the metric is unfair
Banks still punishing builders despite increases in SME loans
Banks lent £18.8bn to small and medium enterprises in the third quarter of this year but 57% of builders still experiencing problems with credit
Arabtec posts five-fold surge in profit and targets work abroad
UAE’s largest builder made a net profit of £6.6m in the three months to 30 September
Robertson Group unveils £6.5m pre tax profit
Turnover at infrastructure, support services and construction firm increased by 5% during the year to 4 April 2011
Caterpillar profits up in third quarter
Earthmoving equipment giant expects recovery in US and Japan markets to gather pace in 2012
PLP Architecture reveals plans for Chinese 'fashion city'
London-based firm will create a 660,000m² urban district
Half-century old Robinson Steel falls into administration
KPMG appointed to handle the administration of structural steel specialist
Construction firms could get green tax exemptions
Chancellor plans to reduce burden on companies with high energy needs
RICS reports 'flat' housing market
House prices continuing to fall as autumn bounce fails to kick in
WS Atkins sells UK Asset Management business
Sodexo buys property management services business for £5.5m
Gleeson regenerates profit while revenue falls 11%
Firm focused on brownfield development in the north of England, upping landbank to 2,400 plots
Kier cuts public construction work to 50%
Boss of firm says he expects workload to stabilies at 50/50
Bilfinger Berger to raise £245m for PPP projects
Firm will use London float to invest in PPP portfolio
House sales slump to lowest level in two years
Prices fall in August as surveyors predict further drops, says RICS
ISG reports ‘best ever’ revenue of £1.2bn in full-year accounts
Firm’s results come despite ‘large loss’ from Swiss project
Costain to make further acquisitions as profit rises by 23%
Firm has targeted work with long-term strategic value and is looking to grow
Revenue at Lend Lease's European arm drops 40%
Firm attributes the drop to challenging trading conditions across the UK and Europe
Hill International plans for ‘aggressive’ Iraqi expansion
Consultant in talks with Iraqi government over four contracts; opportunities for UK firms is ’unlimited’
Styles + Wood posts £0.9m loss
Property consultant hit by ailing retail sector
Unite pushes on with student dorm schemes
Developer posts 67% increse in profit as it announces plans for 4,000 student rooms in London
Kinspan profit up 24%
Insulation manufacturer reports strong first half as building occupiers look to slash energy costs
Modular contractor Britspace enters administration
Yorkshire-based firm will be run as a going concern by FRP Advisory
Profit at Laing O'Rourke halved
Financial results also show 30% cut in European workforce as Ray O’Rourke says firm has shown resilience
Bellway profit ‘ahead of expectations’
Housebuilder issues bullish statement as completion rates rise 7.1%
US construction spending to outpace GDP over next decade
Spending on the US building sector predicated to grow an average of 6% over next decade
EC Harris to target acquisitions by end of year
Firm plans to scale up ahead of market flotation in 2014
Profit slump forces WSP to focus on the private sector
Write-downs in Libya and restructuring costs contributed to the slump
T&T's international revenue to overtake domestic turnover
The firm has been investing heavily in international markets over the past year
Lafarge hives off more of its gypsum business
Construction products giant sells its Australian operations for £109m
Lenehan: Styles & Wood targeting growth in London market
New chief executive believes the London market could help the firm return to growth
Overseas investment boosts London office market
Investment from outside the UK up 25% in first half of 2011
Lend Lease's European profit halved
Global giant’s profit falls 55% but European construction business is on the up
Land Securities teams with pension fund for Victoria scheme
Mixed-use scheme on Victoria circle site worth £1bn
UK construction firms ‘have the edge’ in Qatar
Director of £3.5bn Doha scheme says British will continue to snap up work over next five years
Flooring firm Stuarts falls into administration
One of the country’s largest in-situ concrete flooring specialists has fallen into administration with more than 100 jobs lost
Whitehall cuts construction costs by up to 7%
Data shows government making progress towards efficiency targets for the first time
Shepherd Construction chief executive walks out
Richard Vining third boss of £250m turnover business to depart since 2008
Council pension fund invests £25m in housing
Manchester council hopes to put in place a pipeline of institutional investment
McLaren on course for 75% increase in turnover
Contractor reveals secured projects of over £380m and attributes growth to new business strategy
Liverpool trumpets £130m 'city deal'
Three to four ‘city deals’ handing new powers and financial levers to cities expected in March
Morgan Sindall bags £28m waste-to-energy deal
Contract for Yorkshire Water in joint venture with consultant Grontmij
Green light for construction on £340m Broadgate job
Contractor Mace set to begin main construction work after British Land rubber stamps tenancy deal with UBS
Ramboll to fast track growth through global expansion
UK managing director says global expansion and acquisitions will help firm hit £75m turnover
Julian Daniel's firm Blue Sky Building wins first contract
Firm will act as construction advisor to boutique design and development management firm
Construction industry declines 0.5% in final quarter of 2011
But ONS figures reveal sector did grow 1.3% over the previous 12 months
Sweett Group sells stake in school PFI
Consultant formerly known as Cyril Sweett to use cash to pay debts
Francis Salway to step down from Land Secs
Long-standing chief executive to be replaced by Robert Noel
Mace wins £70m Blackfriars job
Firm set to get full tender for new offices of Building publisher UBM
Construction firms 'undervalued'
Study finds investors don’t believe contractors’ claims of forward order books
Balfour Beatty targets spike in overseas mining work
Chief operating officer predicts ‘huge growth’ in sector in Australia and plans to increase staff
MoD’s search for private sector partner delays work
Department puts £5bn of construction contracts on hold because it wants partner to manage estate
Retail gloom leaves ISG facing £100m shortfall
Firm blames disappointing Christmas retail market for shortfall in projected revenue
T Clarke secures 50% of this year's workload
Building services group issues trading update ahead of full year results
GB Group sells Saltergate stadium to Barratt
Sale confirmed as firm unveils solid financial results with pre-tax profit up 10% and turnover up 4%
Architects struggle as Archial latest to make cuts
Up to 15% of Archial staff face redundancy amid restructure as RIBA says profession is ‘fragile’
Scots firm WJ Harte makes 500 redundant
Contractor calls in insolvency firm in major company failure
Skyscraper construction 'linked to financial crashes'
Barclays Capital points to “unhealthy correlation” between skyscraper construction and financial crashes
Experian: Construction facing ‘lost decade’
Winter forecast suggests UK construction could be heading for ‘lost decade’ in the style of Japan with zero or very low growth
Support services and the US strengthen Balfour Beatty
Balfour Beatty maintains £15bn order book but contactor warns some of its core markets remain weak
YRM entered administration before RMJM sale
Pre-pack deal leaves majority of staff without two-months’ wages
Shaylor bullish on profit and turnover
Chief executive Stephen Shaylor says diversification strategy will put firm back to 2010 levels
YRM to operate as separate studio after RMJM takeover
Architecture specialist to work as ‘YRM-Lab’, with few staff transferring to Scottish-based firm
Balfour Beatty wins £750m National Grid job
Contractor secures extension of existing agreement for the next five years
Willmott Dixon to launch energy services division
New firm will aim to take advantage of Green Deal next year despite others retreating from sector
Brian Green on commercial developments
As prospects for the commercial sector have waned, an opportunity arises for construction firms
Cemex may face pensions strike ballot
Union Unite will ask staff in Rugby, Warwickshire and South Ferriby if they want to ballot for strike
Commercial development falls sharply in November
Savills data says confidence now at lowest ebb for more than two years
Minister: FIT rate 'may be higher than 21p'
Greg Barker is to announce than 21p feed-in tariff is a minimum
English cities given extra powers to drive growth
Eight urban centres will have greater say over major spending projects
Bellway reduces shared equity sales
Housebuilder uses “resilient” market to halve sales via expensive incentive
Citywatch: Carillion bounces back from Eaga hit
Shares have tumbled at the firm but the market has since calmed
Fifteen jobs lost at metalwork firm as administrators called in
Northern Ireland’s McGrath Group saved 117 jobs through internal re-redeployment
Abu Dhabi saga could cost Austin-Smith:Lord ‘millions’
Late payment woes are stopping firm from finding new business, says partner
Caparo Merchant Bar steel workers to take 50% pay cut
More than 150 staff will accept half their previous wage in a bid to keep the firm in business
Government U-turn on brownfield tax break
Treasury abandons plans to scrap land remediation tax relief
Strategic Forum for Construction draws up 'action plan' for government
Proposals will focus on stimulating the sector in the short and medium term
Gardiner & Theobald will stay independent, says boss
Firm posts marginal drops in turnover and profit and reports mixed picture across global markets
May Gurney turnover boosted by highways spending
May Gurney’s acquisition of contrator Turriff also helps to drive total revenue increase to 21%
Telford saves £1m on construction costs
East London housebuilder has taken advantage of weak construction market
Breyer Group reveals scale of damage after FITs cut
Multi-million pound contracts with Colchester and Islington councils in doubt after Peabody cancellation
Chancellor reveals extra £1.2bn for school capital projects
Extra funding will be split between budget for building free schools and address school place shortages
Osborne axes stamp duty relief to help home buyers
Announcement contained in supporting documents of autumn statement
Osborne set to downgrade growth forecasts
Official economic data set to dominate today’s autumn statement
Shepherd Construction back in the black with £4m profit
Parent company Shepherd Group posts profit of £31.5m and turnover of £611m
Hyder in recruitment drive after contract wins
Recent wins for global engineering consultant include £80m road and drainage contract in Qatar
Shepherd doubles its annual profits
Contractor’s industrial division powers Shepherd to profits of £31.5m for the year to June 2011
Respected healthcare architect ceases trading
UK arm of Jonathan Bailey Associates has been placed into voluntary liquidation
Hopkins' profit falls by half
Velodrome architect saw turnover fall 41% over the year ending 31 March 2011
Willmott Dixon wins £147m housing contract
Contractor will maintain 17,000 homes for social housing group
Industry output to fall further than expected over the next two years
Opportunities remain in rail and energy construction
Beginning of 2011 sees first rise in insolvencies for years
Falling workloads, problems with banks lending and economic uncertainty to blame for firms collapsing
Experian to downgrade forecasts for 2012 output
Forecasting firm says pessimism is due to impact of negative sentiment in wake of euro crisis
Mouchel open to serious takeover approaches
Auditor KPMG set to be called in to investigate accounting error
Mouchel boss quits over £8m accounts black hole
Chief executive Richard Cuthbert resigns with immediate effect after company issues profit warning
Extent of industry's financial woes laid bare by survey
Building’s CEO White Paper reveals clients ‘often’ pay late and banks are unwilling to give loans
Sisk Group profit up 11% thanks to international work
Ireland’s biggest builder now employs more staff in the UK than at home
T&T opens two offices in South America
Operations in Brazil and Peru part of strategy to win 60% of revenue from overseas
Jobs to go as HLM Architects closes Guildford office
Firm to amalgamate two offices into one in London
Mace targets new work to beat tough market in 2013
Firm defies market gloom with 17% turnover rise and targets three or four big wins
Revenue up by a quarter at ISG
2011 results show return of office fit-out market, but hit by south-west restructure
Trench Holdings triples annual profit
One of firm’s major subsidiaries won £38m Aberdeen Stadium contract
Loss of jobs as Persimmon restructures West Midlands office
Lack of pipeline of ready sites blamed for staff being put on notice
Costain profits from focus on bigger margins
Pre-tax profit rises 23% to £10.1m as contractor targets work with long-term strategic value
Henry Boot posts £9.1m half-year profit
Contractor’s profit edges upwards in ’stable’ property market
Costain buys support services firm Promanex
Contractor spends £19m on outsourcing specialist for industrial firms
Balfour Beatty buys fit-out firm for £8m
Office Projects Group delivers and manages commerical fit-outs and refurbishments in UK
Morgan Sindall margins fall in first half
Contractor targets private sector and infrastructure growth
Keller boss says UK is its 'most difficult region'
Profitability across the global firm also fell but chief executive confident of international growth
UK construction industry reports solid rise in activity for July
Seventeenth successive rise in new business won according to latest PMI
Metro Design Consultants went under owing £1.2m
Administrator’s report reveals extent of firm’s debt when it went into administration
United House pursues Green Deal amid cuts
Firm considering launching new funding model for eco-friendly retrofit of homes
Construction sector has UK economy's highest insolvency rate
June figures show building materials and construction firms have two worst rates of collapse
