article thumbnail

Subcontractors owed £4.6m after Howard Russell collapse

Construction Enquirer

An update on the administration filed at Companies House said the firm was sunk by a combination of rising materials costs, project delays and defect liability claims. Latest results for the firm for the year to March 31 2022 show a pre-tax profit of £790,000 from a turnover of £43.5m with 31 staff working at the company.

Debt 72
article thumbnail

Persimmon targets subcontractors in cost-cutting drive

Construction Enquirer

” The house building giant highlighted cost control measures in its latest results as sales continued to slump. Latest results for the six months to June 30 2023 show pre-tax profit fell to £151m from £440m last time as underlying profit margins dropped to 14% from 27%.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Commercial Construction Best-Practices: How to Avoid Scandals

HardHatChat

Workers remove wall panels from a high rise to accommodate new windows for one of the many projects Englewood Construction negotiates with its clients. Be sure to check references of general contractors before entering into a negotiated or competitive bid situation. This will give you a much better understanding of the firm.

article thumbnail

Digital Builder Ep 57: Global Construction Professionals Share Their Thoughts on Protecting Margins

Autodesk Construction Cloud

While bringing in large projects and generating revenue is essential, it’s equally important to manage profit effectively and ensure healthy margins. And while profit margins in construction are notoriously tight (4-6%), there are steps you can take to increase your profitability without compromising the quality of your work.

article thumbnail

Army Job Order Contracts FAIL to meet AFARS requirements MOST OF THE TIME

Job Order Contracting

JOC unit prices include direct material, labor and equipment costs, but not indirect costs or profits which are addressed in the coefficient(s). The contracting officer shall negotiate the modification and make a determination that the price is fair and reasonable. 5117.9004-1 Presolicitation. (a) b) Statement of work. (1)

Contract 228
article thumbnail

Win-Win Scenarios for Residents and Property Managers

BD+C

Win-Win Scenarios for Residents and Property Managers 1 kcichowicz Fri, 09/29/2023 - 10:33 Multifamily Housing Discover how proptech is opening open new paths to revenue for owners and property managers, while bringing desirable amenities and conveniences for renters. Check out my thoughts on profitable, resident-centric proptech.

article thumbnail

Digital Builder Ep 57: Global Construction Professionals Share Their Thoughts on Protecting Margins

Autodesk Construction Cloud

While bringing in large projects and generating revenue is essential, it's equally important to manage profit effectively and ensure healthy margins. And while profit margins in construction are notoriously tight (4-6%), there are steps you can take to increase your profitability without compromising the quality of your work.