Financial

Three problem contracts tipped Robertson’s construction business into the red last year, the Scottish contractor has revealed in its latest accounts.  Moray-based Robertson Construction Group said a review of “all construction projects” and “relevant operating procedures” had since been carried out to avoid future issues.  The firm recorded a pre-tax…

Mechanical and electrical (M&E) specialist Briggs & Forrester has undergone a “clear recovery” with turnover and pre-tax profit exceeding pre-Covid levels. The latest set of group accounts, for the year to 31 October 2024, also revealed a record order book after the completion of a five-year restructuring programme. Briggs &…

Squibb Group’s liquidators say they have had “significant difficulty” finding millions of pounds worth of plant and other assets the firm said it owned before it went under. The contractor was wound up in the High Court in December 2023 following an aborted attempt to save the firm. In their…

McLaren Construction has won a case over a £7.9m debt owed to it by a former chairman of Southend United Football Club and his development company. The contractor served statutory demands on Ron Martin and his company Martin Dawn plc to pay the money, which related to a loan agreement…

Civils contractor Alun Griffiths, which is consulting staff on a restructure of its business due to financial conditions, has reported its fifth consecutive pre-tax loss. The firm's annual report and financial statements for the year to 31 December 2023, published yesterday (11 March) on the Companies House website, show a…

Essex-based specialist Sana Mechanical and Electrical has entered administration. The Upminster-based firm called in Gary Thompson and Chris Newell of advisory firm Quantuma on 24 February. The contractor's latest published accounts, covering the year to 5 April 2023, showed it owed £671,826 to creditors within 12 months. However this was…

Underlying turnover at the UK's biggest contractor exceeded £10bn for the first time last year, alongside a double-digit percentage increase in pre-tax profit. Balfour Beatty’s departing chief executive, Leo Quinn, hailed the latest full-year results as evidence of “further strong progress”. However, the group noted an £83m building safety charge…

Housebuilder Persimmon expects to spend more than £200m extra to remediate its remaining buildings of dangerous cladding, it revealed in its annual accounts released today (11 March). Persimmon made a provision of £235m for building safety remediation at the end of December 2024, according to its latest annual accounts. It…

Kier chief executive Andrew Davies hailed “significant operational and financial progress” after the tier one contractor posted increased revenue and profit in its interim results. The Salford-headquartered contractor revealed turnover of £1.97bn for the six months to 31 December 2024. This was up 6 per cent from the same period…

Pre-tax profit at major infrastructure contractor Costain has soared by almost 20 per cent. The firm’s chief executive Alex Vaughan said the increase was “built on four years’ worth of work” and a “clear strategy”. Pre-tax profit was up from £30.9m to £36.5m in the year to 31 December 2024, while…