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McAleer & Rushe set for record year after 2022 profit fall

Construction Enquirer

The bounce back follows a disappointing performance in 2022 that saw pre-tax profit fall 19% to £12m from revenue flat at £404m, according to newly-published accounts. Project delays also caused year-end net cash to slip back to £45m from £59m previously.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Retention can be withheld on residential or commercial projects and on both public and private projects.

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Seven Traits of Profitable Specialty Contractors

Fieldwire

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise.

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Willmott Dixon vows to recover building safety millions

Construction Enquirer

The cost of complying with the Building Safety Act has blown a hole in the latest accounts from Willmott Dixon. Accounts for the year to 31 December 2022 show turnover up to £1.15bn from £1.1bn last time generating an operating loss of £15,000 from a £22.9m profit the year before. profit the year before. ”

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Claritas Group went down owing £7m to supply chain

Construction Enquirer

Claritas specialised in projects up to £70m across the residential, commercial and education markets. Latest accounts for Claritas Group for the year to March 31 2022 show a £50.4m turnover generating a pre-tax profit of £455,000. “Right now, I am truly sorry if you are being affected by the Claritas Group’s failure in any way.”

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Supply chain owed £3.8m after collapse of London builder

Construction Enquirer

MEC specialised in small to medium projects within the M25 across heritage, residential, commercial, healthcare and schools sectors with revenue peaking at around £23m before covid. Management accounts to December 31 2021 showed a turnover of £17m generating a net profit of £177,000.

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Contractor Leads Profitable Vs. Not-Profitable

Contractor Bookkeeping

All Construction Contractors Get Referrals which some turn out to be profitable some turn out non-profitable. The key is getting more profitable leads and fewer not-profitable leads. Most Profitable Lead Referrals come from your clients and most not-profitable lead referrals come from customers.