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Morgan Sindall upgrades profit expectations for year

Construction Enquirer

Morgan Sindall is set to report better-than-expected trading for the first-half with profits strongly up. Chief executive John Morgan said that the fit-out division led by its business Overbury would deliver a profit in the first half around 40% above the level reported for the same period last year.

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Collins Earthworks blames profit dive on red diesel hit

Construction Enquirer

Derbyshire-based Collins Earthworks saw pre-tax profits nosedive to £4.7m Director Dave Collins said: “The profitability for the year has been impaired due to changes in government legislation on the use of red to white diesel, which has resulted in an increase in the costs during the year.” ” said Collins. .

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The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

The good news is that these challenges aren’t insurmountable. By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. ” Clearly, technology can enormously influence your projects’ productivity and profitability. design and preconstruction.

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Housing slowdown forces Travis Perkins profit warning

Construction Enquirer

The slowdown in the housing market has forced a profit warning at Travis Perkins. “Volumes in both the new build housing and private domestic RMI markets continue to be impacted by higher interest rates and weaker consumer confidence driven by persistent, higher than anticipated consumer price inflation.

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Profits fall at BAM UK contracting operations

Construction Enquirer

BAM’s UK building and civil engineering business saw profits fall in the first half as inflation and supply chain issues eroded margins. Building arm BAM Construction saw profits fall by 30% to £13.2m The larger civils business, BAM Nuttall, fared better with stronger revenue up nearly 7% to £554m and profits down 13% at £14.4m.

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Engineering losses halve Briggs & Forrester profit

Construction Enquirer

Briggs & Forrester Group saw pre-tax profit halve to £1.6m Group financial director Jeremy Askew said: “It has been a particularly difficult year with high levels of inflation experienced impacting on the profitability of some fixed price contracts. after suffering a £1.6m

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Severfield soars with strong profit and record revenue

Construction Enquirer

Britain’s biggest steelwork contractor Severfield has delivered stronger than expected profits and revenue after embarking on a diversification strategy. Underlying pre-tax profit jumped a fifth to £32.5m in the year to March 2023 off record revenue up 22% to £492m. He said: “2023 was a very successful year for the Group.