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CN highlights major contractor results posted in August

Balfour Beatty, Bam, Carillion, Costain – just a few of the major contractors that have released financial results this month.

In case you missed them, here are eight highlights not to be missed.

Balfour Beatty chief executive Leo Quinn warned that increased health and safety penalties could bankrupt small companies. He was talking to CN after the group revised its reserves for potential liabilities for H&S incidents in its H1 2016.

Bam Construct executive director James Wimpenny said Bam would be “constantly looking for new opportunities” through its property arm.

The support services division at Carillion accounted for 60 per cent of its total underlying operating profit of £112.7m for H1 2016, at the same time revealing a £10.5m charge in expectation of compensation to victims of the blacklisting scandal.

Costain chief financial officer Tony Bickerstaff said the firm expected its Manchester waste legacy contract to be completed early next year despite not yet knowing the full extent of the work that needs to be done.

Henry Boot’s CEO John Sutcliffe also had a good chat with CN this month. He was confident the company will deliver a boosted development pipeline despite having longer-term concerns after the EU vote.

Construction margins at Lendlease slid to 0.4 per cent in its European business, although managing director of construction for Europe Neil Martin said the group had a healthy outlook.

The senior team at Morgan Sindall had a lot to be smiling about after posting a 21 per cent jump in pre-tax profit for the first half of the year. The following week, CEO John Morgan purchased £3.2m-worth of additional shares in the company.

Tarmac owner CRH’s profit was up €344m in H1 2016 results but it said UK construction activity was “modest” – although sales volumes of cement, aggregates and ready-mixed concrete were ahead of expectations.

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