Travis Perkins: New CEO named after torrid year and FTSE 250 shares slump Business 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 Property 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 Property “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 [...]
Ibstock profit slashed as ‘exceptionally wet weather’ hits construction industry August 7, 2024 Sales and profit at building supplies company Ibstock has continued to fall as “exceptionally wet weather” badly affected the construction industry. The London-listed firm, which is headquartered in Leicestershire, saw its revenue drop 20 per cent to £178m in the first six months of 2024, down from £223m last year. Ibstock said this decrease was [...]
Breedon Group’s profit slumps as rain slows construction sector progress July 24, 2024 Construction materials supplier Breedon reported a dip in its profit despite increased revenue following a major US acquisition earlier this year.
Number of new homes built plunges by a quarter as housing crisis grows July 23, 2024 The number of new homes registered to be built in the UK fell by 23 per cent year on year in the second quarter of 2023, according to figures from the NHBC.
Omega: Kitchen maker says slip into the red was ‘outside its control’ July 11, 2024 British kitchen maker Omega has slipped into the red following a year marred by challenges "outside the company's control", according to newly-filed documents.
Victoria sweeps flooring market woes under the carpet June 19, 2024 Full-year profit at Victoria dipped from £76.9m to £27.1m, alongside a 14 per cent fall in revenue to £1.23bn.