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Land Securities takes over X Leisure centres in £112m deal

Source: Construction News 

Land Securities has taken control of the X-Leisure business as it increases its leisure offer in its shopping centres. The developer has taken a 42 per cent interest in the X-Leisure Unit Trust and 100 per cent interests in management company X-Leisure Limited and X-Leisure (General Partner) Limited for £111.9m. The move increases Land Securities’ holding in the X-Leisure Fund to 54 per cent.  X-Leisure Limited will become a wholly-owned subsidiary of Land Securities and the existing employees will remain with the business.

Company Profile: Land Securities Plc 

Network Rail ranks contractors in league table

Source: Construction News 

Network Rail suppliers will find out within months whether they will be removed from tender lists depending on their performance under newly published league tables, CN has learned. The table (see graph below - click to enlarge) covers performance from suppliers in November and December and shows Osborne at the top of the table, with Buckingham Group last in 36th place. Suppliers helped to determine the assessment criteria for Network Rail, which includes scores allocated for work progressing on time, delivery of schemes as specified, behavioural analysis and safety performance and have also supplied the rail body with spending data from their own supply chains.

Company Profile: Network Rail 

Mears grows order book by £1.2bn in 2012

Source: Construction News 

Housing repair and maintenance firm Mears saw its order book rise by £1.2billion in 2012 and won a third of all social contracts bid during the year, it said in a trading statement today.The firm reported “solid trading” in its two core divisions of social housing and care and a work pipeline worth over £3bn. Mears has 88 per cent visbility of its predicted 2013 revenues. But Mears said its non-core mechanical and engineering business is expected to report a loss for 2012 after experiencing tough trading conditions, especially in the fourth quarter.

Company Profile: Mears Contractors Ltd 

Taylor Wimpey set for 40pc profit boost

Source: Construction News 

Taylor Wimpey is set to report a 40 per cent boost in profits for 2012, with house buyer sentiment in the first fortnight of the new year already looking up.Issuing a trading update ahead of its full year results for the year ended 31 December 2012, the house builder reported stable progress since its last update in November. Home completions increased by 7 per cent to 10,886, up from 10,180 in 2011. The firm anticipates “a natural growth in completions in 2013, as our strong order book, land acquisition strategy and planning approvals on strategic sites organically increase our outlet numbers”.

Company Profile: Taylor Wimpey UK Ltd 

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