Author Archives: Charlotte Banks

The buyer of Lendlease’s UK construction business intends to resurrect the Bovis brand name but is not planning a major restructure of operations, Construction News understands. A week ago, Lendlease Group announced it had reached an agreement to sell its UK construction operations to US private equity firm Atlas Holdings…

The parent company of top envelope contractor Stanmore has tripled its profit amid growing demand for new housing. Akaal Group reported £20.9m in pre-tax profit for the 12 months to 31 March 2024 – three times the £6.9m figure it made the year before. Turnover grew by 39 per cent…

Half as many construction companies went under in December than November, according to the latest data from Creditsafe. A total of 15 firms hit the buffers in the final month of 2024, compared with 30 the month before. It was an unseasonably mellow finale to a year in which major…

M&E firm Enerveo has reported an 83 per cent narrowing of its pre-tax losses, shortly after being bought back by its former parent company. According to accounts covering the year ending 31 March 2024, nine days after the firm was repurchased by its former parent, energy company SSE, Enerveo shrunk…

Lendlease has announced it is selling its UK construction operations to a US private equity firm for £35m. Parent company Lendlease Group announced to the Australian Stock Exchange (ASX) this morning (2 January) that it had entered into a binding agreement to sell its UK construction business to Atlas Holdings,…

Construction figures are warning of a “severe and long-lasting impact” from proposed inheritance tax reforms, which are causing a "groundswell of anger" among family-run businesses in the sector. The Home Builders Federation and Builders Merchant Federation are among 32 trade associations that have signed an open letter to chancellor Rachel…

Bedfordshire-based contractor SDC has attributed a modest increase in turnover and profit to two-stage contracting and a strong market in Oxford and Cambridge. The CN100 firm’s profit grew by 15 per cent in the year ending 30 September 2024, to £2.63m. SDC, which claims to be the first British construction…

The UK’s largest demolition contractors cemented their post-pandemic comeback in the past financial year, with overall turnover and profit showing robust growth. Total turnover among the top 10 firms increased by 14 per cent, while pre-tax profit soared from £37.2m to £56.4m - a 51 per cent increase. Erith, which…

A Dagenham building badly damaged by fire during cladding remediation works is set to be demolished, Construction News can reveal. More than 80 people were made homeless when fire ripped through the Spectrum Building, a seven-storey mixed-use building in Dagenham, in August. The building was in the process of having…

An online backlash against “sexist messaging” at an industry event has led to positive pledges to tackle sexism in construction, diversity leaders have said. On The Tools faced criticism on social media over photos of two women in tight-fitting PPE-style outfits at its awards, which took place in Birmingham last…