Skanska swoops to buy Atkins' highways business in £18m deal
Source: Construction News
Skanska UK has paid £18 million to buy Atkins' highways operation and maintenance business, a move that gives the contractor an 8 per cent share of a £2.4 billion market.The Atkins division reported £80m revenue and £1.3m operating profit in the six months to 30 September 2012 and the acquisition will increase the size of Skanska’s UK workforce by 25 per cent. The business comprises eight live contracts with six local authorities and the Highways Agency to deliver operations and maintenance for the road and motorway network.
Company Profile: Skanska
Interserve's profits climb 173% in 2012
Source: Construction News
Interserve's profits rocketed to £182.9m in 2012 while revenues saw a steady 6 per cent increase to nearly £2bn.The firm expects the UK construction market to remain challenging in 2013 before resuming growth in 2014 due to increased government infrastructure spending and some recovery in private sector investment. Interserve has forecast a growth in support services and equipment services during 2013. Chief Executive Adrian Ringrose said: “We won over £2.7 billion of work during the year, expanding our future workload to £6.3 billion.
Company Profile: Interserve
Taylor Wimpey profits rocket 106%
Source: Construction News
Taylor Wimpey's pre-tax profits more than doubled in 2012 - but the firm is not yet ready to return cash to shareholders.Posting results for the year ended 31 December 2012, the house builder said its UK operating margin was up from 9 per cent to 11.5 per cent “primarily driven by an improved mix and quality of locations, resulting in higher sales prices and an increase in home completions”. Pre tax profit was up 106 per cent from £89.9m to £185.3m, as revenue topped £2 billion (2011: £1.8bn).
Company Profile: Taylor Wimpey
Carillion chief predicts 4% profit margin and defends payment terms
Source: Construction News
Carillion chief executive Richard Howson has said he anticipates construction operating margins of up to 4 per cent in the short-term, while defending the firm's approach to how it pays its supply chain.Mr Howson said the firm is pleased with its 2012 results, after posting a 13 per cent drop in revenue from £5.1 billion to £4.4bn as the company shrank its UK construction business and saw revenue fall in the Middle East, where it is targeting a £1bn turnover. Underlying pre-tax profit for the group was down 4 per cent to £232.4 million.In construction, covering UK and Canada, Carillion reported an industry-busting 5.6 per cent operating margin, up from 3.1 per cent a year earlier, which it put down to the resizing and selective bidding, lower bid costs and “a rigorous focus on cost management”.
Company Profile: Carillion
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