{"id":382199,"date":"2019-03-20T11:25:00","date_gmt":"2019-03-20T11:25:00","guid":{"rendered":"http:\/\/www.constructionnews.co.uk\/uncategorised\/a-week-for-construction-to-forget-or-learn-from-20-03-2019\/"},"modified":"2019-09-27T15:28:21","modified_gmt":"2019-09-27T14:28:21","slug":"a-week-for-construction-to-forget-or-learn-from","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/contractors\/tilbury-douglas\/a-week-for-construction-to-forget-or-learn-from-20-03-2019\/","title":{"rendered":"A week for construction to forget (or learn from)"},"content":{"rendered":"

In its 2018 results, the contractor pointed to achieving \u201cindustry-standard margins\u201d<\/a> but it was its comments about being set for greater, profitable growth in the years ahead that showed confidence in the sector and will be welcomed.<\/p>\n

That it came in the same week as Interserve being forced under<\/a> along with Dawnus<\/a> and Paragon Interiors<\/a> rather took the shine off a positive story for the sector in a week to forget (or learn from).<\/p>\n

The Cabinet Office came under pressure to explain the deals given to Interserve in recent times, when the UK\u2019s third-largest contractor was forced into a pre-pack administration last week.<\/p>\n

Interserve\u2019s deal looks at this stage like the best outcome for suppliers, but more than 16,000 shareholders have taken the fall in a sorry tale for construction.<\/p>\n

\n

\u201cBalfour Beatty\u2019s turnaround should give hope to others\u00a0in the doldrums\u201d<\/p>\n<\/blockquote>\n

But Balfour Beatty\u2019s turnaround should give hope to others\u00a0in the doldrums. Lest we forget, Leo Quinn came in as CEO\u00a0there shortly after Carillion had tried to engineer a reverse\u00a0takeover and with the industry\u2019s confidence in the UK\u2019s\u00a0largest contractor at its lowest ebb.<\/p>\n

Now, suppliers are working for the firm again, and when the chancellor wanted to speak to business leaders about Brexit in January, the Balfour Beatty boss spoke for the sector.<\/p>\n

Indeed, Mr Quinn\u2019s confidence in a call with Construction News<\/em> last week only faltered when the firm\u2019s payment terms were brought up.\u00a0<\/p>\n

When I asked (in jest) whether it was \u201cjob done\u201d for Mr Quinn, the turnaround specialist, he gave a long, drawn-out \u2018no\u2019, saying\u00a0he wanted to see the business capitalise on a few \u201chome runs\u201d in the next few years.<\/p>\n

The Balfour Beatty business is back. Now let\u2019s see what it can really do.<\/p>\n

\n

Davies a glutton for punishment?<\/h3>\n

Clearly a glutton for punishment, new Kier boss Andrew Davies gave up the top role at reliable Wates in late 2017 for a poisoned chalice at Carillion, which then went under.<\/p>\n

My feeling at the time was few construction companies would take him on due to that error of judgement, but his successful time at Wates means he\u2019s worth a punt for Kier.<\/p>\n

How does he turn a faltering business around, strengthen its balance sheet, get it back on sure footing including building trust with suppliers?<\/p>\n

He could do worse than pick up the phone to Mr Quinn.<\/p>\n<\/div>\n

\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

In its 2018 results, the contractor pointed to achieving \u201cindustry-standard margins\u201d but it was its comments about being set for greater, profitable growth in the years ahead that showed confidence in the sector and will be welcomed. 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