This week’s look at the latest on Carillion’s suppliers, Network Rail’s top contractors and a rise in financial distress.
137 – Carillion suppliers receiving support
20180427 week in numbers carillion
Construction News exclusively revealed that banks have reported “low activity” in the number of Carillion suppliers seeking financial help following the contractor’s collapse. Official analysis seen by CN shows requests for credit from Carillion-affected firms have been “limited” and “subdued”, despite HSBC, Lloyds and the Royal Bank of Scotland making a total of £225m available to support suppliers.
-20% – Offices downtown in 2018
Output in the offices sector is set to fall by a fifth during 2018, according to the Construction Products Association’s latest forecasts. The forecaster also said that Carillion’s collapse and bad weather in February and March contributed to a £1.5bn quarterly decline in output during Q1. However, overall output for the industry is expected to edge up 0.1 per cent for the year.
35% – Better wellbeing sought
20180427 week in numbers wellbeing
A survey by not-for profit organisation Westfield Health shared with CN also revealed that 32 per cent of workers feel the industry needs to provide more support for physical and mental wellbeing. CN this week launched a second annual mental health survey again to investigate whether progress has been made.
4.91 – Network Rail’s top PRISM score
20180427 week in numbers network rail
The Carlisle-based contractor scored the highest average PRISM score across Network Rail’s reporting periods up to the end of 24 February 2018, as exclusively revealed by CN this week. The PRISM score is a measure used by Network Rail to monitor the delivery performance of its contractors. Of the UK’s 30 biggest contractors by turnover, Skanska was the highest performing with a score of 4.57, followed by Bam Nuttall on 4.48 and Balfour Beatty Civil Engineering with 4.34.
26% – YoY rise in financial distress
More than 60,000 construction firms faced ‘significant’ financial distress in the first quarter of 2018, Begbies Traynor has found. The company’s Red Flag Alert revealed that 60,541 industry firms were in ‘significant’ distress in Q1, up 26 per cent from 48,227 in the first quarter of 2017. The figure was slightly down quarter on quarter, however, from Q4 2017’s figure of 62,294.
32 months – Combined jail time
20180427 week in numbers jail
Stephen Banks, former managing director of fit-out firm Skansen Interiors Ltd, and Graham Deakin, formerly of real estate company DTZ, both pleaded guilty to bribery at Southwark Crown Court. The charges related to payments made in exchange for information designed to help Skansen Interiors win fit-out contracts with DTZ.