Financial

Pre-tax profit at Keller soared by 70 per cent in the first half of the year thanks to the strong performance of its North American operation. The London-headquartered specialist geotechnical contractor posted a pre-tax profit of £43.1m for the six months to 30 June – up from £25.4m on the…

Essex-based contractor Mulalley has grown its revenue by 10 per cent but warned that business uncertainty caused by post-Grenfell regulatory change may effect its future workloads. The firm posted turnover of £193.3m for the year to the end of March 2023, along with a pre-tax profit of £3.1m. This followed…

Mace has called on the government to offer tax credits to companies exporting design, engineering and construction services. The contractor, which operates in five continents, says in a new report that the global market for British construction expertise could be worth £11.5bn, if construction’s share of UK exports were to…

McAleer and Rushe has seen its profit margin squeezed to under 3 per cent, with turnover growth dampened by instability in the financial markets in the second half of last year. The Northern Ireland-based design-and-build contractor recorded a pre-tax profit of £12.1m for the year ending 31 December 2022, down…

In a blow to the construction industry in the North East, it has emerged that administrators have been appointed to the developer behind a major Newcastle regeneration scheme. Ned Ailyan and Ben Stanyon of FRP Advisory were appointed as joint administrators to Quayside West Limited on 10 July. This places…

Winvic’s pre-tax profit fell by a third in the year to the end of January 2023, as “unpredictable” material prices squeezed its margins. In annual accounts published this week, the firm reported a pre-tax profit of £10.5m, 33 per cent lower than last year’s £15.6m. Winvic's turnover climbed to £1.2bn…

Ground-engineering specialist Van Elle has reported an almost 50 per cent rise in profit in its latest financial results, as it posted a record turnover for the second year in a row. In the year to the end of April 2023, the firm’s pre-tax profit was £5.4m, an increase of…

Will imminent reforms boost or hinder take-up among construction firms of HMRC’s research and development tax credits scheme? David Prosser investigates Will construction companies miss out on valuable incentives designed to encourage innovation under a shake-up of the research and development (R&D) tax credits scheme? His Majesty’s Revenue and Customs…

Sir Robert McAlpine saw its profit margin squeezed to 0.86 per cent last year, although a hefty increase in revenue kept its profit stable. The family-owned contractor turned over £1.07bn in the year to 31 October 2022, an increase of £150m – or 16 per cent – on its previous…

A judge has quashed an attempt by a collapsed contractor to claw back money it contributed to a troubled joint venture (JV) with Ferrovial Agroman UK. The decision, which overturns a ruling last December, concerns work by Lagan Construction Group and Ferrovial to upgrade the M8, M73 and M74 motorways…