Financial

Tarmac boosted its UK revenue and underlying profitability last year through measures including price increases, its latest accounts show. The company, which quarries aggregates, manufactures concrete and has contracting subsidiaries, saw revenue rise from £1.81bn to £2bn, according to accounts for the year ending 31 December 2022. Tarmac’s pre-tax profit…

Van Elle Holdings has bought Galliford Try’s specialist piling business Rock & Alluvium in a deal worth up to £3.8m. Van Elle made an initial payment of £1.8m, with £2m payable 12 months from completion, subject to completion accounts. The firm will acquire 11 piling rigs and take on Rock…

A local authority in the North of England is calling for compensation from the government over its decision to scrap the northern leg of HS2. Cheshire East Council wrote to rail minister Huw Merriman and communities secretary Michael Gove seeking compensation totalling £11.2m, to cover a sum invested by the…

Profit expectations at Ibstock remain unchanged despite a dip in sales in the face of sluggish demand. In its trading update for the third quarter of the year, the brickmaker said sales volumes were down on those achieved in the previous quarter, but margins remained robust thanks to cost reductions…

Homes England is set to receive just 0.1 per cent of the £69m it is owed by Ilke Homes, after the firm’s administration process was hit by equipment theft and problems selling completed modules. The collapsed modular homebuilder owes £321m to its creditors, including £68.7m to Homes England – but…

Logistics and warehouse specialist Readie Management Limited has blamed inflation and supply-chain failures for a fall into the red in its financial results for the year ending 31 March 2023. However, in accounts released at the same time as its parent company, Readie Construction Limited (the only trading company in…

Recession is forecast to overshadow the construction industry until 2025 as a weakening economic backdrop has seen the prospects for recovery downgraded. Output is now forecast to fall by 6.8 per cent this year, according to the Construction Products Association (CPA), a slight improvement from the 7 per cent predicted…

Vinci Construction UK made a loss of more than £44m last year after taking a hit on two contracts and cranking up its fire-remediation provisions. Newly released accounts for the 12 months to 31 December 2022 show the company fell to a £44.2m pre-tax loss, compared with a £23.6m profit…

Ground engineering contractor Fugro GB Marine has reported a pre-tax loss of £8.2m for 2022, despite a 35 per cent spike in turnover. The loss, included in the firm’s accounts for the year to 31 December 2022, represents a drop of more than 300 per cent compared with Fugro GB…

Infrastructure services and engineering maintenance specialist Amey UK has reported higher pre-tax profit for 2022, despite setting aside more than £100m to cover expected future losses on contracts. In its latest financial statement, covering the year to 31 December 2022, the company reported a pre-tax profit of £86.4m, compared to…