CN delves into the big developments of the past few days, including Carillion’s share price woes and Costain’s loss-making contract exit.
41.5p – Fresh low for Carillion
The troubled firm’s share price bottomed out on Wednesday but has since recovered slightly, standing at 49.6p by Friday lunchtime. The price slumped after Carillion revealed a £875m contract provision and a profit warning in July this year.
£843m – Top 10’s profit fall in three years
This week’s publication of the CN100 ranking of the top 100 contractors revealed that the 10 biggest firms by turnover made a combined net pre-tax loss of -£52.9m. In the 2014 CN100, they made a net profit of £790.5m.
£426m – Chinese takeover price
Permasteelisa is headquartered in Italy but has worked on projects including the Shard, Walkie Talkie and 125 Old Broad Street. Current chief executive Riccardo Mollo will continue in his role after the takeover is complete.
£15m – Costain’s losses on problem PFI
The contractor this week reached an agreement to settle the contract, with work set to conclude by 29 September. Costain was originally handed a £397m contract to design, construct and commission 46 waste facilities across Greater Manchester by Viridor Laing, which headed up the £3bn PFI.
0.8% – Output growth in Q2
Year-on-year output growth in the construction industry slipped to just 0.8 per cent in Q2 2017, according to the ONS. This is the among the slowest rates of growth recorded since 2012. Earlier this month the ONS reported that output had fallen by 1.3 per cent quarter on quarter in Q2, driven by a dip in public work and private commercial.
13% – Housebuilding growth
Housing starts between January and June this year hit 164,960, pushing activity up to the highest level since 2008. The figures from the Department for Communities and Local Government also show the volume of new homes completed rose by 11 per cent in the first half of 2017 to 153,330.