Morgan Sindall upgrades profit expectations for yearMorgan Sindall this morning said end-of-year profits would be significantly ahead of expectations after another stellar performance from the fit-out business Overbury.
In the trading update chief executive John Morgan said fit-out division profits had strengthened significantly due to exceptional volumes and were now expected materially to…
TopHat confirms winding down of volumetric operationVolumetric offsite house builder TopHat is winding down its factory operation.
The Goldman Sachs-backed firm blamed dwindling orders for the decision to open consultations with the workforce at its factory near Derby.
TopHat said the planned wind-down would see all factory orders completed.
Overall TopHat’s accumulated losses stand at around…
ISG suppliers facing initial £180m hitAdministrators sifting through the rubble of the ISG collapse have already identified £180m in unpaid bills for the failed contractor’s supply chain.
Updates posted at Companies House cover all of the group’s defunct businesses apart from the fit-out division.
An initial statement of affairs for the main construction division, signed-off by CEO Zo…
HS2 contracts face rewrite as costs spiral out of controlThe Government is threatening to rewrite construction contracts on HS2 as ministers step-in to oversee the project amid spiralling costs.
Transport Secretary Louise Haigh said she is “reinstating ministerial oversight of the project to ensure greater accountability.”
She added: “Separately, the incentives of the main HS2 contractors…
Demolition giant John F Hunt Group sold to staffThe John F Hunt Group Ltd has announced the creation of an Employee Ownership Trust (EOT) for its 500 staff.
Charman John Hall said the move was a natural step for the £157m-turnover demolition,construction and regeneration specialist.
He said: “Selling the Group to a third party or breaking it up would never have been straightforward, or an…
University of Warwick advances £700m campus planThe University of Warwick has committed to a £700m investment in its West Midlands campus representing the largest single investment in campus facilities across its entire 60-year history.
Preparations for phase one of the STEM Connect Programme will involve the new science and engineering precinct to reinvigorate the heart of its campus.
A former…
Go-ahead for £750m East London data centrePlans to build a £750m urban hyperscale data centre on a site next to the River Lea and A13 in East London have got the go-ahead from the London Borough of Newham.
The Bidder Street data centre project is being developed by Legal & General, digital infrastructure investor Goldacre, and data centre development partner sineQN.
It is expected to cost…
Keltbray Infrastructure Services buys Linbrooke rail armKeltbray Infrastructure Services Limited has acquired Linbrooke Services’ rail business.
It is the first acquisition since Keltbray Infrastructure Services was sold by its parent company to private equity firm EMK Capital in August.
Linbrooke’s rail business is an approved Network Rail tier-one Principal Contractor, delivering end-to-end…
M Group joins top seven as revenue jumps to £2.2bnPrivate equity-owned infrastructure services specialist M Group has joined the ranks of the industry’s top seven contractors after raising revenue 22% to £2.2bn.
The firm, which was originally spun out of Anglian Water for £135m in 2008 as Morrison Utility Services, delivered strong growth in its target water, energy, highways and telecoms…
BlackRock to take control of Lanes GroupAsset manager BlackRock is set to take a majority stake in water and wastewater contractor Lanes Group.
The deal is expected to close by the end of this month and accelerate growth at the £500m turnover business which employs 4,000 staff on drainage and utility infrastructure jobs.
Wayne Earnshaw, CEO of Lanes Group, said: “This marks a pivotal moment…