Chancellor unveils extra £2bn capital spend a yearChancellor Rachel Reeves has spared construction capital spending cuts and managed to find a further £13bn over the Parliament to support growth-enhancing spending on infrastructure, housing, and defence.
Coming on top of the £100 billion uplift announced at Autumn Budget, this will deliver projects needed to catalyse private investment, boost…
Vistry profits slump after site costs reporting debaclePartnership homes specialist Vistry saw profits tumble nearly two-third last year after being impacted by poor cost reporting at the southern division.
Pre-tax profit slumped to £105m from £293m previously on revenue down 6% to £3.8bn.
Chief executive Greg Fitzgerald said organisational and leadership changes implemented after a swift…
Severfield chief to step downThe Chief Executive Officer at structural steel specialist Severfield is stepping down after seven years at the helm.
Severfield said that Alan Dunsmore wil leave the group “by mutual consent” on June 30.
The search is now underway for a successor with interim leadership arrangements put in place to ensure business continuity.
Charlie Cornish (Chair of…
Mace wins £600m Euston Tower overhaulDeveloper British Land is understood to have struck a deal with Mace to deliver a £600m overhaul of the Euton Tower in London.
The award is a coup for Mace, which secured the pioneering project despite Lendlease starting out as early favourite after drawing up the pre-planning demolition and construction strategy.
Under the reconstruction plan, Mace w…
Funding hurdle remains as Lower Thames Crossing gains consentThe proposed £9bn Lower Thames Crossing between Kent and Essex has been given the planning go-ahead by Transport Secretary Heidi Alexander.
The mega-project will be the country’s largest road scheme since the M25 was built 35 years ago and will have a major impact on the civil engineering industry.
But despite development consent…
Morgan Sindall upgrades forecast for next 12 monthsMorgan Sindall has upgraded its profit forecast for the year ahead just a month after posting strong results for last year.
In an unscheduled trading update, the firm said its Overbury fit-out firm enjoyed a flying start to the new financial year and was on track to yet again drive growth in profits ahead of expectations.
The firm is benefitting…
Government pledges £2bn stop-gap funding for 18,000 homesThe government today pledged to inject £2bn in top-up grant funding to build up to 18,000 social and affordable homes in England.
The funding will only be released for development on sites that will deliver in this Parliament, getting spades in the ground quickly to build homes in places such as Manchester and Liverpool.
This means…
Restructure underway at Henry Boot ConstructionHenry Boot Construction (HBC) is restructuring after a year of struggling to fill its order book as a new management team takes charge
Henry Boot bosses said performance at its construction division including Banner Plant (BP) was “below our expectations” in its latest results for the year to December 31 2024.
Construction posted turnover of…
Just two major new roads schemes to start this yearNational Highways has revealed it will start just two major highways enhancement schemes in the forthcoming financial year.
The road agency has set out a special interim spending plan for 25/26 after the government delayed the third Road Investment Strategy for a full spending review.
National Highways said RIS3 would now be more focussed on…
Plans go in for £400m GRAHAM Manchester siteDetailed plans have now been submitted for the University of Manchester’s £400m redevelopment scheme for its Fallowfield Campus.
The redevelopment includes construction of 3,300 modern, high-quality student bedspaces, along with dedicated amenity space, ancillary residential dwellings and greenspaces.
Five distinct neighbourhoods that celebrat…