Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Week in numbers: Carillion cladding and Balfour's fortunes

A look at the numbers behind Balfour Beatty’s half-year results, Interserve’s US-based EfW partner and the cost of replacement cladding on a Carillion development.

£251m – H1 losses at Interserve partner

20180817 week in numbers babcock 2

20180817 week in numbers babcock 2

B&W is delivering three EfW plants in the UK with Interserve at Dunbar, Margam and Rotherham. In its quarterly results released last week, the US company could not guarantee it would overcome its financial problems. 

9% – Fall in Balfour’s H1 revenue

With the exception of H1 2017, Balfour’s half-year revenue has been on a steady downward trend for the past five years, falling from £3.54bn to £3.22bn in its latest accounts for the six months to 30 June 2018. However, Balfour Beatty’s interim results showed that its order book grew to £12.6bn as of 30 June, up from £11.4bn a year earlier.

50% – Carillion hospital cost hike

20180817 week in numbers Midland Met

20180817 week in numbers Midland Met

The government has confirmed it will directly fund the completion of the hospital project, after stakeholders decided against creating another PF2 arrangement to finish the work. Earlier this month Deloitte put the cost of completing the hospital through a contract procured by a public sector client at £319m; at the time of its collapse, Carillion had completed £205m of work.

317% – Balfour profit increase

20180817 week in numbers Balfour

20180817 week in numbers Balfour

Thecontractor revealed that revenue fell more than £300m year on year to £3.22bn in the first half of 2018, leaving the firm with a pre-tax margin of 1.6 per cent. Balfour paid down $45m (£35.4m) of US loans and redeemed £39m of its bonds, which increased net cash to £366m at the end of June compared with £161m 12 months earlier.

£1,156 – PwC’s highest hourly Carillion rate

PwC staff were paid an average of £356 an hour by the official receiver for their work on Carillion’s liquidation. Correspondence released by MPs’ joint inquiry revealed that the highest-earning PwC staff were their pension specialists, with those at partner level earning £1,156 an hour.

246 – Residents facing re-cladding costs

20180817 week in numbers cladding

20180817 week in numbers cladding

Leaseholders living in the buildings face huge costs to replace the combustible cladding on the 246-home development, and have urged the project’s original developer Countryside Properties to foot the bill. A Countryside spokesman said the NV Buildings had received all the relevant approvals when Carillion completed the project.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.