Financial

Caunton Engineering’s turnover and profit have plunged. The Nottingham steelwork contractor, which was fifth in CN’s 2024 list of top 10 steel contractors, this week posted revenue of £65.5m for the year to 31 January 2025, down 31 per cent from £94.8m in the previous 12 months. Pre-tax profit dropped…

Administrators for a mechanical and electrical specialist are allowed to continue claims over cash owed to creditors after previously being barred due to a legal order. As reported by Construction News in April, the director of the collapsed firm had been served with a restraint order under the Proceeds of…

David Crosthwaite is chief economist at the Building Cost Information Service Construction is no stranger to volatility. It has endured recessions, rampant inflation, global supply chain crises and sharp swings in demand. But stagflation – the combination of stagnant growth and persistent inflation that we’re currently experiencing – is an…

Structural steel fabricator Billington Holdings has announced plans to close its site in Bristol and consolidate two further sites in Barnsley. The news comes after it revealed earlier this year that its pre-tax profit dropped by almost a fifth in 2024 and warned it expected an even steeper fall this…

Gateshead-based Brims Construction has posted record profit and turnover despite the highest project cancellation rate “we have ever experienced”, the company has said. In the year to 31 March 2025, the firm saw a 10.6 per cent increase in turnover to £64.43m from £58.3m – the highest in the company’s…

Bellway put aside more than £50m in its latest financial year for remediating apartment blocks in line with post-Grenfell programmes. The housebuilder revealed a net legacy building safety expense of £51.8m for the 12 months to the end of July 2025. This was up from £37m in the prior year…

Housebuilding in half of London would be unviable even if housing and infrastructure contribution requirements were completely removed, according to new analysis. Research firm Molior’s quarterly residential development report, published on 14 October, warned that only a fraction of schemes with existing planning permission are likely to be built, as…

Willmott Dixon is eyeing record framework-related turnover in 2025, the tier one contractor has announced. The £1.1bn-turnover firm, which was ranked 18th in the latest CN100 index of top UK contractors, said it had secured more than £700m of framework business for 2025. Two frameworks were extended in H1: Procurement…

Administrators for collapsed regional contractor Surgo Construction have mooted legal action to secure cash owed to the failed company – and warned that their work may not be competed until 2027. An update report published by FRP Advisory said the firm could bring in specialist solicitors to undertake recovery processes. Newcastle-based…

Renew Holdings has acquired Cheshire-based overhead line contractor Emerald Power for up to £12.3m, marking its latest move to expand capabilities in the regulated electricity distribution sector. The deal was completed through Renew’s subsidiary Excalon Holdings, with an initial payment of £7.8m funded from existing banking facilities. A further £4.5m…