Financial

Pay for construction workers should increase by 2.75 per cent from June, under new guidance from the Building and Allied Trades Joint Industrial Council (BATJIC), the Federation of Master Builders (FMB) and the Unite union. A new guidance document said that adult general operatives’ rates should increase by 26p per…

Galliford Try has issued a profit warning as it embarks on a review of its construction business. The company said its pre-tax profit before exceptional items for the year ending 30 June would be £30m-£40m below consensus expectations of £156m once it completed the review. The review of the construction…

A £656,000 bonus paid to Interserve’s chief executive and chief financial officers has been branded “wildly insensitive”. Details of the 2018 pay packets for CEO Debbie White and CFO Mark Whiteling, which totalled almost £2m, were revealed in accounts signed off one week before the company was handed over to…

McAleer & Rushe ended 2018 with £60m in cash in the bank, according to newly filed accounts. Its cash reserves were 25 per cent higher than the £47.4m reported at the end of 2017. Construction finance director Eamon Higgins said building up a cash pile was part of the company’s…

Henry’s turnover has almost doubled in 12 months, having increased from £111m in 2017 to £208m for the year ending June 2018.

The government has told its strategic suppliers to make sure they meet payment performance or face being barred from contracts.

Hidden within the construction sector is a surprising amount of innovation.

Five office fit-out firms based in London and the Home Counties have been fined a combined £7m for cartel involvement.

Barclays will host clinics across the country to help construction SMEs when the UK leaves the EU next month.

These are uncertain times, and uncertainty of any kind creates problems for business.