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Costs to soar after funding axed for Kier road job

Ian Weinfass — Fri, 01 Mar 2024 12:15:07 +0000

Local government commissioners have warned that the government’s withdrawal of funding for a £600m PFI highways contract, won by Kier, is likely to damage a bankrupt council’s ability to turn its finances around. On 30 November, the Department for Transport (DfT) confirmed it was ending…

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Kier rejoins FTSE 250 index

Ian Weinfass — Fri, 01 Mar 2024 11:30:39 +0000

Kier Group will return to the FTSE 250 Index later this month after a five-year absence. London Stock Exchange indices producer FTSE Russell announced on Wednesday (28 February) that the contractor would re-enter its mid-cap list on 18 March after the implementation of its next…

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Mace JV picked for £12.6bn Hudson Tunnel project

Will Ing — Thu, 29 Feb 2024 11:48:40 +0000

A joint venture between Mace, Arcadis and tech firm Parsons has been chosen to deliver a $16bn (£12.63bn) US tunnelling project under the River Hudson between New York and New Jersey. The joint venture, named MPA Delivery Partners, will work with client Gateway Development Commission…

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Equans Regeneration quits new-build work after £136m loss

Ben Vogel — Thu, 29 Feb 2024 09:22:23 +0000

Equans Regeneration is exiting the new-build housing market after it reported a £135.6m loss for 2022. In its first published accounts since being acquired by Bouygues in October 2022, the group admitted that higher turnover failed to prevent a plunge into the red in 2022…

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Costain to move to London HQ

Will Ing — Wed, 28 Feb 2024 10:07:25 +0000

Costain is moving its headquarters from Maidenhead in Berkshire to the City of London. The UK’s fifth-largest publicly listed contractor is set to take over the seventh floor of the Mace-built ‘Can of Ham’ building at 70 St Mary Axe. The 1,600 square metre office…

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Legal challenge against three A47 upgrades dismissed

Ian Weinfass — Mon, 26 Feb 2024 07:00:37 +0000

Three major new road schemes on the A47 in Norfolk are a step closer to going ahead after a legal challenge was dismissed by the Court of Appeal – although campaigners could take the case to the Supreme Court. The roads are: a dual carriageway…

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Morgan Sindall and Skanska sign for Cambridge jobs worth £277m

Ben Vogel — Thu, 22 Feb 2024 13:02:23 +0000

Morgan Sindall Construction and Skanska UK have each won jobs in Cambridge from rail pension-fund manager Railpen. Skanska has picked up a £200m contract to build the 50,000 square metre Botanic Place office scheme on Hills Road, close to the university’s botanical gardens. Designed by…

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Morgan Sindall posts record £4.1bn revenue

Charlotte Banks — Thu, 22 Feb 2024 12:54:11 +0000

Morgan Sindall has announced record profit and revenue in its unaudited accounts for the year ending 31 December 2023. The contractor posted a pre-tax profit of £143.9m, up from £85.3m in 2022. The increase represents a steady growth in operating profit after the firm’s 2022…

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Multiplex starts work on £190m South Bank tower

Will Ing — Tue, 20 Feb 2024 13:07:26 +0000

Multiplex has started construction work on a 50-storey residential tower at Bankside Yards by the River Thames in central London. The Australian contractor is working with building-frame subcontractor Keltbray and facade subcontractor Scheldebouw on the 250-flat tower, which is part of the £3bn Bankside Yards…

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Lendlease reports fresh loss as cladding costs bite again

Joshua Stein — Mon, 19 Feb 2024 12:43:28 +0000

Lendlease has reported an A$173m (£89.7m) pre-tax loss in interim results after making further provisions to deal with dangerous cladding in the UK. The publicly listed Australian contractor and developer has put aside a further A$22m (£11.4m) to tackle its historic building-safety liabilities in the…

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