RSK revenue nears £2bn as losses soar to £132mAcquisition-hungry consultancy and construction services group RSK reported deeper pre-tax losses of £132m for the year ending March 2024, compared to a loss of £90m in the previous year.
Despite this RSK’s debt-fuelled expansion drove a 52% increase in revenue, reaching £1.9bn.
Before interest payments on loans totalling £143m, the grou…
Bridge design wind error adds £20m to construction costsLincolnshire County Council has warned that its £148m Grantham Southern Relief Road could cost an extra £20m to build following a bridge design error.
The issues with the rollout of the bridge over the River Witham and the East Coast Main Line will also delay completion of the route by a year to 2026.
Cllr Richard Davies, executive member…
City’s biggest retrofit tower scheme approvedDevelopment manager Stanhope has got the go-ahead for a 33-storey office tower in London’s Square Mile.
The 70 Gracechurch Street project will provide 550,000 sq ft of office space and ranks as one of the city’s largest retrofit projects.
The 155m tower will be stepped, with three glazed office elements split vertically.
Plans for a similar…
Defibrillator saves worker’s life on Wates siteA machine operator for groundworks specialist McCoy Contractors is still alive thanks to his quick thinking colleagues on a Wates prison job.
Driver Chris Bird suffered a cardiac arrest last November and “died” for 16 minutes at the HMP Brinsford site near Wolverhampton.
His colleagues and Wates site managers sprang into action to perform CPR…
Balfour leadership rejig to focus on three key growth sectorsBalfour Beatty has restructured the responsibilities of its three key operational division leaders to focus on the firm’s core growth sectors: Energy, Defence, and Transportation.
Steve Tarr, currently the divisional CEO of Power Transmission & Distribution, Rail, and Balfour Beatty Kilpatrick, will additionally serve as Group Sector…
Regulator pledges to clear 122 project backlog by AprilThe Building Safety Regulator has pledged to clear by April the backlog of projects awaiting safety design clearance to start construction.
The regulator’s accepted backlog for Gateway 2 approval includes around 122 projects. For the first time, the regulator has confirmed to the Enquirer that 31 of these schemes are new-build high-ris…
Government opens bidding for new AI Growth ZonesThe Government has fired the starting gun on plans to create AI Growth Zones to power regional growth and attract major private investment.
These growth zones will speed up planning permission to rapidly build AI infrastructure including data centres and give them the energy connections needed to power AI innovations in areas lik…
Vistry strikes deal for phase 3 of £1.2bn London estate rebuildHousing association Metropolitan Thames Valley Housing has agreed multiple deals with Vistry to pave the way to build 323 homes at the £1.2bn Clapham Park regeneration scheme in South London.
The JV has secured the land from MTVH allowing construction to begin on Phase 3 of the major estate rebuild.
It also signed an agreement for…
Fire hits £31m student accommodation siteSix fire engines were needed to battle a blaze which broke out on Saturday at a £31m student accommodation scheme under construction in Lancaster.
Local roads were shut for several hours during the incident at the Sailworks scheme where Bridgestone Construction is building two blocks of five and seven storeys.
The contractor said: “Earlier today, a…
£90m funding release for quartet of road upgradesThe Government has approved £90m funding for four major road schemes in England.
The projects are targeted at speeding up travel times in Wiltshire, Leeds, Essex and Buckinghamshire.
Dualling of the A350 Chippenham bypass, which connects the south coast with the M4, Bristol and the Midlands, will cost around £32m, with £27m coming from funding…