Construction sector cuts jobs again as house building slumps Industrials The construction industry shed jobs for the 18th consecutive month in June following “sharp declines” in house building and a slowdown in new home sales. The latest S&P Global Purchasing Manager’s Index (PMI) for the construction sector showed more cutbacks to employment with another period of “sustained job shedding”. Subcontractors were also hit by the [...]
UK construction ‘exits tailspin’ but job losses persist as housebuilding slumps Economics The UK’s struggling construction sector showed signs it was turning a corner at the beginning of the year even as job losses and shrinking order books persisted. The latest construction Purchasing Manager’s Index (PMI) from S&P Global – which serves as a headline index tracking industry activity – edged up to 46.4, up from 40.1 [...]
Construction sector hit by waning activity ahead of Budget Economics Business activity expectations in the construction industry have fallen to the lowest since the end of 2022 as companies remained glum on future outlook ahead of the Autumn Budget. The latest Purchasing Managers Index (PMI) from S&P Global showed construction output showed the industry hit its highest level for three months at 46.2 – though [...]
Balfour Beatty receives profit boost from government contracts August 13, 2025 Infrastructure group Balfour Beatty recorded a jump in profit for the first half of the year after a bumper performance in its UK construction. The London-listed firm posted a £20m rise in pre-tax profit for the first six months of the year to £132m, up from £112m last year. It came as the business’ UK [...]
Laing O’Rourke: Heathrow Terminal Five builder doubles profit August 4, 2025 Laing O’Rourke, the construction giant behind Heathrow’s Terminal Five, more than doubled its profit during its latest financial year. The business has posted a pre-tax profit of £41.5m for the 12 months to 31 March, 2025, up from the £18.1m it reported for the prior year. The profit comes after Laing O’Rourke lost £288m in [...]
Travis Perkins: New CEO named after torrid year and FTSE 250 shares slump May 9, 2025 The man chosen to lead an almighty rebuilding project at construction supplies giant Travis Perkins has been named. Gavin Slark has been picked as the Northamptonshire-headquartered company’s new chief executive and is set to take up his role no later than 1 January, 2026. Slark has held the same position at SIG since 2023 and [...]
Sir Robert McAlpine returns to profit after losing over £100m April 28, 2025 Sir Robert McAlpine, the family-owned construction giant which built London 2012’s Olympic Stadium, has recovered from losing over £100m to return to profit. The Hertfordshire-headquartered business has posted a pre-tax profit of £10.4m for 2024 after having slumped to a loss of £104.6m in 2023. The business has also reported a turnover of £940m for [...]
‘Prohibitive building costs’ stunting UK growth projects – Deloitte February 4, 2025 “Prohibitive costs” involved in construction projects in major UK cities led to a sharp decline in the number of new developments breaking ground in 2024, according to a new report from Deloitte. Deloitte’s latest Regional Crane Surveys, which covers the central areas of Belfast, Birmingham, Leeds and Manchester, has revealed the number of new starts [...]
Vistry ‘significantly outperforms’ housing market September 5, 2024 British housebuilder Vistry has reported a rise in revenue and said it is on track to build close to 20,000 homes this year, bucking the trend in a struggling industry. Revenue rose by 11 per cent to £1.97m in the half-year ended 30 June 2024, while operating profit rose 10 per cent to £227.3m. Profit before [...]
Barratt: Profit halves at housebuilder but firm optimistic after Redrow deal September 4, 2024 Housebuilder Barratt reported a halving in profit and drop in completions amid a challenging housing market, but has said it is optimistic about the future. Barratt said its total home completions in the year ended 30 June reached 14,004, down 18.6 per cent from 17,206 in 2023 but at the upper end of the company’s [...]