{"id":533694,"date":"2025-12-01T12:00:10","date_gmt":"2025-12-01T12:00:10","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=533694"},"modified":"2026-01-12T15:01:51","modified_gmt":"2026-01-12T15:01:51","slug":"cn-specialists-index-2025-top-10-steel-contractors","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/financial\/cn-specialists-index-2025-top-10-steel-contractors-01-12-2025\/","title":{"rendered":"CN Specialists Index 2025: top 10 steel contractors"},"content":{"rendered":"

Profit and turnover have fallen among the UK\u2019s biggest constructional steel contractors in the past year amid persistently high labour and energy costs.<\/p>\n

The top 10 firms in the UK reported a 42 per cent fall in pre-tax profit in their most recent accounts, collectively making \u00a334.1m less. Revenues also dipped: the top 10 subcontractors\u2019 total, from their latest accounts, fell from \u00a31.37bn to \u00a31.35bn \u2013 a drop of 2 per cent.<\/p>\n

At the start of this year, the British Constructional Steelwork Association (BCSA) said in a report that the UK construction sector consumed 38,000 tonnes less steel in 2024 than the year before \u2013 a 4.3 per cent drop. The total floor area of structural steel frames had also contracted by 6.7 per cent. \u201cThe hopes of a more positive outlook from a year ago have not been realised,\u201d chief executive Jonathan Clemens tells Construction News<\/em>. \u201cCompanies operating in the constructional steel sector have seen profits squeezed as costs \u2013 particularly labour and energy \u2013 remain high.<\/p>\n

\u201cTo compound this further, prices have continued to remain suppressed due to the
\nlack of demand and more onerous contract conditions being imposed. This has resulted in a steeper decline in profits than the volume reductions, raising a cause for concern in terms of the overall robustness of the supply chain.\u201d<\/p>\n

This year\u2019s highest-ranking steelwork contractor, Severfield, suffered the worst blow to its bottom line. It sank to a \u00a317.5m loss, compared with a \u00a323m profit the year before. The firm retained the top spot, having turned over twice as much as its nearest rival, but its revenue of \u00a3450.9m was down 3 per cent. In the company\u2019s accounts, it said it had been hit by extraordinary costs relating to remedial work on several bridges. An expected contract award for the \u00a34bn Agratas battery gigafactory was also delayed at short notice, which had an impact on its profit, the firm added. Fifth-placed J&D Pierce saw its profit plunge by 83 per cent to \u00a32.3m.<\/p>\n

Bucking the trend, William Hare reported a profit seven times higher than on last year\u2019s index, up from \u00a32.3m to \u00a312.5m. While he hails the firm\u2019s continued profitability, group board director Steve Duffield also says the year was \u201cnot without its challenges for the industry, with the economic uncertainty causing some market slowdown\u201d.<\/p>\n

Only three companies \u2013 William Hare, BHC and new entrant John Reid & Sons \u2013 saw turnover rise in their most recent financial accounts. But Clemens says: \u201cFortunately, as a sector, steel fabricators have continued to invest in both automation and skills development of its staff, which has helped to address some of the [cost] pressures.\u201d<\/p>\n

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The top 10 companies in:<\/h3>\n