Figures behind the headlines on Carillion’s troubles, Lakesmere’s debts and HS2’s conflict-of-interest conundrum.
75 per cent – Jacobs secures HS2 contracts
HS2 has blocked CH2M staff working for it from taking part in the procurement of contracts involving Jacobs, following Jacobs’ $2.47bn acquisition of CH2M. CH2M is currently working for HS2 in a joint venture with Atkins and Sener as engineering delivery partner for phase one.
20% – Balfour’s remaining stake in the M25 operator
Balfour Beatty is set to sell a further 7.5 per cent of its stake in M25 operator Connect Plus to either Dalmore Capital or Equitix Investment Management, having sold 12.5 per cent to Dalmore in December. This will leave it with a 20 per cent stake; however, Dalmore and Equitix have the option to buy a further 5 per cent at the same price until May 2018.
10 months – Carillion’s hospital waiting time
Royal Liverpool and Broadgreen University Hospitals Trust confirmed to Construction News that the project’s 28 February completion date would not be met by the contractor. The project was due to complete in March 2017, but the discovery of cracks in two concrete beams requiring significant remedial work in January last year pushed the handover date back to March 2018.
61 – Carillion updates issued
The FCA is investigating trading updates made by Carillion between 7 December 2016 and 10 July 2017. Carillion said it was “co-operating fully” with the watchdog into the “timeliness and content” of the announcements made over the seven-month period.
52.5 – Activity index falls back in December
The CIPS/IHS Markit PMI index stood at 52.2 for the month, down from the 53.1 posted in November but still above the 50.0 threshold which indicates an increase in activity rather than contraction. The civils market had arrested a three-month decline as new orders hit a seven-month high, the survey also found.
£23.1m – Amount Lakesmere owed HSBC
CN revealed this week that administrator Deloitte believes there is “no prospect” of Lakesmere’s trade creditors getting their money back. However, HSBC’s position as a secured creditor means it should be able to recoup in the region of £8.1m.