Construction UK Logo For Mobile
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
11/01/2017

Interserve Warns Of 'Disappointing' UK Construction Performance

Construction News Image
Interserve has warned of a 'disappointing performance' in its UK construction division ahead of the publication of its annual results next month.

The first said expectations for full-year headline results are unchanged as overall trading has "remained in line with previous guidance".

It added that overall stronger performances from its international devisions would offset poor UK figures.

hss

Last year, the Group reported a £70 million charge for the troubled Glasgow Recycling and Renewable Energy Centre project. Viridor, the schemes developer, has since cancelled Interserve's contract on the project.

In a trading statement today, the firm said: "The net debt position of the group as at 31st December 2016 is expected to be better than previously guided, at £270-280m, driven by strong collections and other working capital management measures, which have more than offset an increased level of cash outflows from the exited Energy from Waste business."

(LM)

Latest Construction News

26/05/2017

BAM has been selected to refurbish Grade II-listed castle in Warwickshire. The £35.5 million project will see Studley Castle restored into a new hotel for the Bourne Holidays group. Completion is scheduled for winter 2018. Work is already underway at the historic site. Features include linking the
26/05/2017

Plans have been submitted for a £24 million student development in Swansea. The Kingsway scheme will be built in the north-west of the city centre. Designed by Day Architectural, the six-storey 311-bed scheme would rise to 11-storeys in one corner of the property featuring 28 self-contained studio
26/05/2017

Two companies and a director have been prosecuted after four workers were crushed to death at an excavation site in Norfolk. Claxton Engineering Services Ltd of Ferryside, Ferry Road, Norwich pleaded guilty to breaching Regulation 9(1)(a) of the Construction (Design and Management) Regulations 2007
26/05/2017

Leading UK awards organisation, NOCN, has agreed to purchase the Construction Industry Training Board's awarding body, Cskills Awards. As part of the deal, 24 Cskills Awards staff will transfer their employment to NOCN on 01 August when the sale is completed. Staff will continue with their current
26/05/2017

Cement logistics drivers working for Cemex UK have accepted a new pay deal. Last month, staff threatened to take strike action after rejecting a previous offer of a 1.6% increase to pay and allowances backdated to 01 July 2016. However, following further discussions between Cemex UK and Unite, dri
25/05/2017

Stepnell has started work to build a new £5.6 million building for Nottingham Trent University. The contractor is developing a six-storey facility for the University's Confetti Institute of Creative Technology on the corner of Lower Parliament Street and Convent Street. Completion is scheduled for
25/05/2017

McLaren Construction has been selected to develop a new £38 million sports and science facility for Brighton College. Designed by Dutch architect OMA, work on the four-storey building will get underway in July this year. The project involves demolishing existing buildings within the site boundary
25/05/2017

Workers at a Devon-based glass products company are set to take strike action due to a pay dispute. A total of 44 employees at DB Glass in Newton Abbot have voted 81% in favour of undertaking six 48-hour work stoppages, beginning on Wednesday,07 June. Further stoppages will occur on 14, 21 and 28
25/05/2017

Costain has strengthened its oil and gas team by appointing Tim Martin as Director of Front End & Advisory Services. With 20 years' experience in the sector, Mr Martin joins from Ramboll where he acted as Managing Director. He has led the delivery of multiple innovative solutions for client organi
25/05/2017

Network Rail has announced it will undertake a programme of track improvement projects this Spring bank holiday weekend. The schemes are being carried out as Network Rail continues to rebuild London Bridge and the surrounding tracks as part of its Thameslink Programme. Features include installing
Slimline Glazing Systems LtdTrutec Pools & Leisure LtdJeff Ayres and AssociatesCrystal Curtain & Blind Manufacturers LtdPJS Solutions LtdD & E Technical Services LtdIron Works UK LtdMayville Construction CoBulmer Brick & Tile Co LtdFernhill Stone
Terms and Conditions