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Construction

Construction SMEs at growing risk of failure

The latest Business Distress Index from Real Business Rescue, a division of insolvency accountants Begbies Traynor, reports an 11% rise in the number of construction companies that it considers to be “in significant financial distress” – reaching 79,570 for the fourth quarter of 2020. It sounds bad. But perhaps the bigger story is that, by Begbies’ reckoning,…

Construction’s bounce-back starts to fade

After that record 41% fall in April 2020, construction output had been rebounding, growing every month – until now. According to the Office for National Statistics (ONS), December 2020’s output was down 2.9% compared to November, falling to £13,516m and its lowest level since August. December saw falls in both new work (3.8%) and repair…

Construction profit warnings hit new high

Accountancy firm EY monitors all the statements put out London Stock Exchange listed companies. The FTSE Construction & Materials sector issued a record 33 profit warnings in 2020. We have previously reported that there were 28 profit warnings in the sector in the first nine months of 2020. The latest EY Profit Warnings Report reveals…

Construction urged to embrace direct employment

According to a new report on industry employment structures, the increasing prevalence of self-employment, casual labour and off-payroll working has damaged construction productivity and skills. The report, Direct Employment – a study of economic, business and social outcomes based on the electrical contracting sector, is written by Howard Gospel, emeritus professor of management at King’s College London,…

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