Financial

Construction equipment supplier Adastra Access has collapsed, with the loss of 38 jobs. The firm, which had a Glasgow office and reported turnover of £5.4m for 2021 in its latest published accounts, appointed administrators this week and ceased trading. Adastra describes itself on its website as “one of the UK's…

Housebuilder Berkeley has said its future delivery of new homes will be jeopardised by the “planning environment and regulatory uncertainty” unless issues are urgently resolved. Berkeley’s pre-tax profit for the year to 30 April 2023 was £604m, up 9.5 per cent from the previous year and in line with guidance…

Bid prices will rise by more than expected this year, a key report has warned, as labour costs continue to soar. Contractor and consultancy Mace increased its tender price inflation forecast for 2023 to 3 per cent in London and 3.5 per cent outside the capital. In its latest UK…

A groundworks company has been sold out of administration to a firm with the same directors. YPP Groundworks and Civils Ltd, based in Otley, West Yorkshire, was sold in a pre-pack deal this week in a move that saved the jobs of its 15 employees. Unsecured creditors of the firm,…

Administrators for Henry Construction Projects have said they are investigating why the business collapsed – and confirmed that the “majority” of the contractor’s 40 staff have been made redundant. The London-based contractor, which expanded rapidly in recent years, turning over £402m in the year to June 2021, called in administrators…

Travis Perkins has warned that its full-year profit will be lower than previously forecast, as it bears the impact of a slowdown in housebuilding.  The FTSE 250 firm said that, due to “ongoing challenging market conditions”, it expected its adjusted operating profit to be about £240m. In April, the UK's…

Somerset groundworks and civils contractor G Works Construction has gone into administration, with 88 employees made redundant out of a workforce of 109. The Bridgwater-based firm, which worked on projects across the South West for main contractors including Tilbury Douglas and ISG, appointed administrators from EY-Parthenon this week. G Works,…

Construction output has fallen as private housing work plummeted to a 17-month low, official data has revealed. The Office for National Statistics (ONS) has this week said the volume of work carried out by the industry dropped by a seasonally-adjusted 0.6 per cent in April. Coming after two consecutive months…

Yorkshire-based modular housebuilder Ilke Homes has stopped production at its Knaresborough factory and is looking for a buyer. The company said that it was “exploring a sale of the business as volatile macroeconomic conditions and issues with the planning system complicate fundraising and housing delivery”. It added: “The company and…

Bowmer & Kirkland's annual results for the year ending 31 August 2022 remained stable, with only minor falls in turnover and pre-tax profit. The Derbyshire-based contractor – which was 12th in the CN100 2022 list of top contractors – generated turnover of £1.15bn, down by 2.5 per cent on the…