This week’s look at Dame Hackitt’s review in the wake of Grenfell, Carillion’s ‘hidden’ debt, and winners on a £1.3bn nuclear submarine framework.
£498m – Carillion’s ‘hidden’ debt
20180518 week in numbers carillion
Moody’s and fellow rating agency Standard & Poor’s have claimed Carillion’s accounting approach “concealed its true level of borrowing” from creditors. The revelation came ahead of the Carillion joint inquiry’s final report, which described the contractor’s collapse as “a story of recklessness, hubris and greed”, with directors paying out dividends based on profits that were supported by exploiting its suppliers.
£18m – Speedy recovery continues
Speedy has reported a 25 per cent increase in pre-tax profit to £18m for the year to 31 March 2018, up from £14.4m the previous year. Revenue rose 2/2 per cent to £377.4m, though Speedy was forced to write off £2.1m it was owed by Carillion when it collapsed in January. Profit has recovered at the firm, which slumped to a loss of £57.6m in 2015/16.
3 hours – from report to consultation
20180518 week in numbers hackitt
Dame Hackitt’s report on Building Regulations and fire safety post-Grenfell called for a “radical overhaul” of work on high-rise blocks, but stopped short of proposing a ban on the use of combustible cladding. However, hours later housing minister James Brokenshire revealed plans for a consultation in parliament after a backlash against Dame Hackitt’s position.
11 – Subs £1.3bn deal will support
20180518 week in numbers submarine
Kier Graham Defence, Morgan Sindall and VolkerStevin won places on the Ministry of Defence’s £1.3bn 10-year Clyde Commercial Framework. The framework was procured through the Defence Infrastructure Organisation with support from consultant firms including Jacobs and Mott MacDonald.
2,960 – New council homes in 2016/17
London mayor Sadiq Khan has unveiled plans to get work started on 10,000 council homes over the next four years. London councils have built just 2,100 homes over the last seven years, according to the mayor’s office. However, the number of homes being built by local authorities across the UK as a whol has increased in recent years, albeit from a low base.
15,300 sq m – £500m Westminster revamp
20180518 week in numbers parliament
The contractor scooped the deal this week to carry out refurbishment work on several parliamentary buildings including Norman Shaw North and South, 1 Parliament Street and 1 Derby Gate. Wates is now working on the least disruptive and most cost-effective way to phase the work, which will commence in 2019.