Financial

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 contractor also reported that profit before tax had more than doubled from £4.3m to £9.4m in the same period. In a statement released with its accounts, Henry’s board…

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

Minister for implementation Oliver Dowden has written to the government’s largest suppliers, which includes Balfour Beatty, Interserve and Kier, reminding them of their target to pay suppliers in 30 days. In…

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

And the businesses carrying out this research and development (R&D) activity are entitled to a generous reward from the government’s R&D tax incentives. R&D tax credits are not something you should put off for another year. With small- and medium-sized…

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

A Competition and Markets (CMA) investigation resulted in Fourfront, Loop, JLL, ThirdWay and Oakley admitting that they had an agreement ito deliberately place bids intended to lose contracts; a practice known as cover bidding. The…

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

Clinics held in branches from March will focus on managing cash flow and working capital, supply chain management, labour and protecting against fraud. The construction industry is being specifically targeted for help,…

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

Problems of long-term funding, of short-term cash flow. Staffing for today, staffing for tomorrow. Construction businesses must know that goods, services and skills will be delivered safely, reliably and on time. That’s for supply chains simply to function,…