Construction news

• Skanska lifts margin to 4.3% as profit hits £78m

  14-05-2025 22:50 via constructionenquirer.com
  
  Skanska UK bounced back to full profitability last year bouyed by strong margins at infrastructure and FM businesses.
  This improvement more than offset lower returns from its building arm to almost triple pre-tax profit to £78m despite revenue slipping back to £1.27bn (2023: £1.33bn).
  Operating profit roared back to £54.1m (2023: £6.3m) as margins soared from 0.5% to 4.3%.Skanska said it had benefitted from stronger project performance across long-term FM contracts
  
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• Durkan dogged by legacy jobs despite return to trading profit

  14-05-2025 18:19 via constructionenquirer.com
  
  South East housing contractor Durkan has clawed its way back to a trading profit but still ended the year deep in the red as legacy fire safety costs continue to bite.
  The contractor posted an operating profit of £133,000 before exceptionals in the year to 30 November 2024, marking a turnaround from a £3.8m trading loss the year before.
  But after shouldering nearly £15m in exceptional charges for fire remediation and redundancy costs, it slumped to a pre-tax loss of £8.3m
  
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• Inland Homes creditors face £38m hit

  14-05-2025 15:15 via constructionenquirer.com
  
  Unsecured creditors hit by the collapse of Inland Homes will not get anything for the £38m of unpaid invoices they were left holding when the house builder went under..
  The grim news for subcontractors and suppliers was confirmed in an update filed at Companies House by administrators from FRP Advisory.
  Inland Homes went into administration in October 2023 after the AIM-listed business had its shares suspended amid mounting losses and delayed accounts.The FRP report said that unsecured cre
  
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• Morgan Sindall starts £38m Caerphilly leisure hub

  14-05-2025 09:09 via constructionenquirer.com
  
  Morgan Sindall has broken ground on a £38m wellbeing and leisure centre in Caerphilly, transforming disused land into a major new community facility.
  The scheme is being delivered with Alliance Leisure for Caerphilly County Borough Council and forms a key part of the town’s 2035 regeneration plan.
  The scheme is designed by Watson Batty and managed by Hadron Consulting.Located near Caerphilly’s public transport interchange, the new hub will transform a patch of disused scrublan
  
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• Crown Golf tees up £1bn plan to build 3,000 homes on course land

  14-05-2025 09:06 via constructionenquirer.com
  
  Crown Golf has teamed up with London fund manager Fairway Capital to redevelop land around its golf courses into more than 3,000 homes worth over £1bn.
  The joint venture will transform parts of eight golf courses across Greater London, the South East and South West – with nearly 1,000 affordable homes and several new community facilities in the mix.
  The regeneration push is backed by Australian Bangarra Group that owns Crown Golf.The plan is to retain core golfing operations while un
  
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• Sureserve swoops for rival compliance outfit Kinovo in £56m deal

  14-05-2025 08:33 via constructionenquirer.com
  
  Sureserve has agreed a £56.4m deal to buy smaller compliance rival Kinovo as it looks to expand its grip on the country’s social housing sector.
  Kinovo turned over £64m last year and specialises in electrical safety and maintenance work, will be taken private under the all-cash offer backed by its board.
  Shareholders will receive 87.5p per share – a 41% premium on the pre-bid price.Kinovo operates mainly in the south east and East Anglia employing around 250 staff through
  
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• Barking build to rent towers face rebuild

  14-05-2025 08:22 via constructionenquirer.com
  
  A £50m build to rent scheme in east London is facing a major rebuild after construction defects were discovered.
  Building work on the blocks at Axe Street in Barking started in 2020 and was due to finish in 2022 but stalled near the completion phase.
  Original developer Lindhill employed main contractor Shapoorji Pallonji UK Ltd to build the 170 apartment scheme on the site of the former Abbey Sports Centre.The UK offshoot of the Mumbai, India based Shapoorji Pallonji and Company Pvt. Ltd w
  
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• Green light for Peterborough Station Quarter £48m revamp

  14-05-2025 08:20 via constructionenquirer.com
  
  Plans to regenerate Peterborough’s railway station and surrounding areas has been given the green light by the government.
  The approval clears the way for construction work to begin on the first phase – dubbed ‘City Link’ – later this autumn, subject to the Government’s forthcoming Comprehensive Spending Review.
  City Link will replace the existing Cowgate underpass with a new direct pedestrian and cycle route between the station and the city centre, creating a
  
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