Financial

The UK civils and infrastructure arm of Bouygues subsidiary Equans has recorded an almost threefold uplift in pre-tax profit, driven by improved returns across its portfolio of private finance initiative (PFI) contracts. Equans E&S Infrastructure UK’s accounts for the year ending 31 December 2024 show the company increased its pre-tax…

Former Carillion chief executive Richard Howson has withdrawn his court challenge to the punishment handed to him by the Financial Conduct Authority (FCA) over breaches of financial rules. Howson’s case challenging the FCA’s findings, which were behind a provisional fine of almost £400,000, was originally listed to be heard today…

Contractors seeking to do business with the City of Westminster will face more scrutiny and stricter safeguards following the collapse of Geoffrey Osborne. A report by the council’s Audit and Performance Committee on learning lessons from the firm’s demise said a number of robust measures had now been adopted. Geoffrey…

A former Merit job to build hospital facilities in York is at a standstill, three months after the contractor called in administrators. The £8m job to build a two-storey facility at York Hospital (pictured), including a new surgical theatre and MRI suite, went silent when Merit appointed administrators in November.…

Analysts are upgrading their profit predictions for Morgan Sindall after the firm issued an unscheduled trading update due to its fit-out division outperforming expectations. Under Article 17 of the Market Abuse Regulations, companies must disclose information directly concerning themselves to the stock market as soon as possible so that the…

A leading construction equipment firm has issued a profit warning following a “disappointingly muted January”. Vp Plc said current pressures in the construction and water sectors had hit activity volumes. It said it was aiming to cut 400 jobs through its transformation of Brandon Hire Station, which involves reducing its…

Severfield has appointed former ISG executive Andrew Page as its new chief financial officer, replacing interim finance chief Jan Bramall. The structural steel specialist said Page would join the board as chief financial officer and executive director from 16 February 2026, following what it described as a comprehensive search process…

A family-run modular business in Yorkshire that specialised in football projects has fallen into administration. Mockba Ltd – trading as Mockba Modular – called in administrators Carrie James and Simon Carvill-Biggs of Oury Clark, according to a notice on the official Gazette site last week. Ossett-based Mockba Modular was established…

Robertson has stormed to a double-digit profit after a “concerted effort” to focus on “quality over quantity” reversed its fortunes, it said. The contractor’s executive chairman Bill Robertson (pictured) hailed a “robust” year at the helm of the UK’s 29th biggest contractor, as it tabled a pre-tax profit of £20.2m…

A subcontractor that was owed a six-figure sum after the collapse of offsite firm Merit says it was pushed to the brink after payment dried up last year on an NHS hospital project. The firm’s director, who asked not to be named, spoke out about his experience after Construction News…