Author Archives: Joshua Stein

Nearly a third of Balfour Beatty’s shareholders rebelled against a pay package increase for chief finance officer Philip Harrison at the company's annual meeting this morning (8 May). The UK’s biggest contractor saw 70.25 per cent of its shareholders vote in favour of the 2024 remuneration report in the firm’s…

Bam’s parent company has enjoyed a profit boost in the first quarter (Q1) of the year, helped by a “significant improvement” in the performance of its UK construction arm. In a trading update this morning (8 May), Netherlands-based Royal Bam said Bam Construct was one of the “main drivers” for…

Balfour Beatty expects cash to near £1bn at the end of 2025, after reporting wins in key markets this year. The UK’s biggest contractor said in a trading update this morning (8 May) that average net cash in 2025 is expected to reach between £900m and £1bn, following a “strong”…

Tier one contractor Costain is conducting intensive clay investigations at a proposed site for the UK’s first planned reservoir in more than 30 years, with the aim of reducing the risk of cost overruns. The firm is leading clay compaction trials (CCTs) at the site near Abingdon, in Oxfordshire. If approved,…

More than two thirds of ISG’s former staff are pursuing legal claims against over the way they were made redundant, according to administrators. In their latest update on the administration of eight ISG firms (see box below), published on Wednesday (30 April), EY’s Timothy Graham and Alan Hudson said they…

Substantial growth in the infrastructure sector is expected over the next 12 months, according to new research. In its latest UK Construction Monitor, released this morning, the Royal Institution of Chartered Surveyors (RICS) described infrastructure as “the standout performer” that will “drive the bulk of the overall growth in activity”…

A UK construction product manufacturer has lost its right to display a key quality Kitemark on a range of products after using an unaudited overseas foundry for production. In a statement posted on its website, Thomas Dudley Ltd said that 14 products were produced in a foundry in Howrah, India,…

A subcontractor specialising in kitchen and bathroom refurbishments has failed in its attempt to avoid paying the Construction Industry Training Board (CITB) levy. Dunstable-based 3D Force Ltd had argued that it should not have been subject to the levy, and had been charged too much by the CITB. But in…

Contractors working in the public sector will face spot checks as the government attempts to clamp down on late payment in the supply chain. All construction projects worth more than £5m could be examined by public sector bodies in an attempt to uphold 30-day payment times. Documents published by the…

Plans to complete HS2 at Euston remain “a good way off” and a swift resolution for the site needs to be reached urgently, the rail body’s two commissioners have said. HS2’s independent residents’ commissioner Stewart Jackson said the plans for HS2’s London terminus remained “unclear and undefined”. In their latest…