Financial

Byrne Group has posted an increase in pre-tax profit, after its businesses working in tier one contracting and concrete structures delivered steady growth. In what it described as a “robust performance”, profit increased from £6.8m to £7.4m, as the firm withstood a “very challenging economic environment” in the year to…

A Surrey-based infrastructure specialist has enjoyed an increase in profit and turnover on the back of two major acquisitions in the engineering sector. Octavius Infrastructure celebrated a “very successful year” following the buys, which helped propel its pre-tax profit from £3.8m to £4.6m. Turnover for the year to 31 March…

Negotiating directly with tender providers has helped Speller Metcalfe beat the downturn and achieve a £132m turnover. The firm’s full-year results to 31 March showed improved performance, with revenue up from £112.6m in the previous year. Its latest accounts, published on Friday (11 October), revealed that the Worcestershire-based business recorded…

Bam Nuttall saw its pre-tax profit soar to £64.4m 2023, largely driven by the resolution of legacy projects. Turnover of £1.21bn generated a pre-tax profit for the year ending 31 December 2023 that was 16 times higher than the previous year’s figure of £4m, its latest accounts show. This marked…

Integral UK has reported a £31.6m loss after suffering from inflation and loss-making legacy contracts.  The building services and fit-out specialist, which is owned by real-estate giant Jones Lang LaSalle (JLL), saw its turnover increase by 3 per cent to £362.4m in the 12 months to 31 December 2023.  However,…

Scottish housebuilder Cruden has reported a sharp fall in revenue after deciding to reduce its contracting work. At the end of 2023 the Edinburgh-based group said it would move away from construction contracts after being burned by “unsustainable risk transfer”. The firm said it would instead focus on building its…

Large construction companies will be forced to report the proportion of retention sums they withhold from suppliers under legislation introduced this week. The new reporting requirements, which aim to “encourage improved payment practices”, have been enacted through a statutory instrument laid before Parliament, business secretary Jonathan Reynolds announced in a…

A fit-out firm has revealed plans for its design-and-build team to drive business expansion after announcing a £3m pre-tax profit. London-based BW Interiors said the team, which was launched in 2023, will “drive engagement in that particular market”, after it boosted profit in 2023. The firm focuses mainly on the…

WFC Contractors, a £45m-turnover fit-out company, has been bought out of administration. The Devon-based contractor was sold in a pre-pack deal to RW Group, which has a portfolio of construction and aviation companies. WFC contractors grew its turnover to £44.7m during 45 years of operation, but struggled with inflation in…

Buckingham Group’s supply chain claims have nearly tripled to £300m, with worker tribunal claims set to push the total even higher, according to administrators. The tier one contractor went under last September as it was hit by “significant cashflow pressures” and a number of legacy issues. The £665m contractor’s demise…