Construction news

• Structure Tone close to breakeven after years of losses

  14-04-2023 08:55
  
  Fit-out specialist Structure Tone has returned to almost breakeven point after five years of losses.
  Revenue jumped by 57% to £121m last year but the firm still recorded a small £141,000 loss, albeit after taking into account significant restructuring costs.
  Increased activity saw the average headcount rise 18% to 124 staff.
  After suffering significant project losses in the data centre market, the London business unit is now concentrating on its core markets of interior fit-out and r
  
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• Van Elle starts cost-cutting drive as housing work softens

  14-04-2023 08:51
  
  Ground engineering specialist Van Elle is rolling out cost-saving measures as it confronts softening demand for foundations in the housing market and growing uncertainty in infrastructure.
  In a trading update this morning, the firm said results for the year to April would be in line with previous expectations of achieving a pre-tax profit in the £5m range and group revenue ahead 20% of the £125m achieved in 2022.
  But since the interim results in January, Van Elle said it had seen the
  
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• Downing suffers £8.5m loss after cladding job hit

  14-04-2023 07:44
  
  Liverpool-based Downing Construction suffered an £8.5m loss last year after settling a major claim over defective cladding on three high rise student accommodation blocks in Manchester.
  The firm revealed it is now seeking compensation from insurers to recoup some of the £17.6m it paid in damages to the developer Unite Students late last year after the roofing cladding contractor involved went into liquidation.
  A High Court verdict at the end of 2022 ruled that the specialist roofing
  
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