Severfield warns on profits blaming major project delaysConstructional steelwork giant Severfield issued profit warning this morning blaming project delays and falling business confidence.
In a trading statement, Severfield said it would look for a further round of cost reductions and had cancelled the £10m share buyback programme to manage the fall off in workload.
The profit warning blaming an…
Administrators go in at aggregates firm AshvilleAdministrators have been appointed at Ashville Aggregates and Concrete.
Companies House records show that administrators from Leonard Curtis were appointed late last month at the materials supply and muck away specialist which operates from a main yard near Heathrow Airport servicing sites across London and the South East.
Leonard Curtis has also…
Wernick Hire expands with launch of Modular HireWernick Hire has launched Modular Hire – a new division dedicated to providing building regulation-compliant modular buildings for hire.
While modular building solutions were already part of Wernick Hire’s portfolio, the addition of a specialist hire solution reflects the company’s commitment to growing its customer portfolio and services,…
Watchdog MPs raise alarm over HS2 Euston station planMPs on the Public Accounts Committee have lambasted the management of the HS2 project and raised grave concerns about the latest plan to deliver the Euston terminus in London.
Their report published today calls for “fundamental reset” of the project by the summer.
They warn that they remain sceptical about the Government’s ability to…
£2.2bn Gatwick second runway decision delayedThe Government has requested additional time to review Gatwick Airport’s proposal for a second runway.
Northern Runway plan includes new terminal buildings and transport enhancement
Transport Secretary Heidi Alexander said that she was “minded to approve” the plans but today formally extended the deadline for a decision until the end of…
Network Rail fined £3.41m after Surbiton track worker deathNetwork Rail has been fined £3.41m following the death of a track maintenance worker at Surbiton in February 2021.
The firm pleaded guilty to a safety offence following an investigation and prosecution by industry regulator the Office of Rail and Road.
It is the second heavy fine in as many weeks following a £3.75m penalty imposed…
Funding deal for £237m Tide Construction student towerA £237m funding deal has paved the way for construction of the first major high rise student accommodation scheme at Canary Wharf in London.
Tide Construction will build the 1,068-bed student tower at 30 Marsh Wall, to the south of West India Dock.
A light bronze aluminium vertical band on the principal façade will extend up the full 48…
Government to license principal contractors after GrenfellThe Government has promised a further three years of sweeping reforms to the way the industry operates in its response to the Grenfell Inquiry report.
It confirmed that seven firms criticised in the Grenfell report will now be investigated under the Procurement Act and face a total ban from government contracts.
The Government also…
Overbury profits lift Morgan Sindall to another record yearMorgan Sindall’s fit-out arm Overbury delivered a another stellar performance last year contributing more than half of the construction group’s profits.
A strong daily net cash position of £374m (2023:£282m) helped Morgan Sindall to remain choosy about the work it took on helping the mainstream construction arm to achieve a 3%…
Galliford Try wins £45m high security prison fire safety retrofitGalliford Try has clinched a £45m contract to deliver essential fire safety improvements at high-security Category A prison HMP Wakefield.
Delivered by Galliford Try’s Building North East and Yorkshire team, on behalf of the Ministry of Justice, the project will involve improvements across the entire facility, requiring clos…