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28th August 2012
Source: Construction News
Henry Boot saw group revenue and profits drop by a third in the first half of 2012, despite a rise in construction profits.
Company Profile: Henry Boot
Administrators will take control after shareholders rejected a proposal to pass Mouchel to the banks. Mouchel says jobs are safe.
Mouchel will be handed over to administrators after shareholders rejected a plan for a bank buy out of the consultancy. The firm - which employs around 8,000 people - will be sold to a newly incorporated company.
Mouchel announced at the start of the month that it was proposing a restructuring which would see its banks take control of the company and a delisting from the Stock Exchange. That deal was subject to a shareholders vote this afternoon. It said today that it will now pursue an 'Alternative Plan' that will mean the appointment of adminstrators and sale of company assets.
Mouchel said: "It is not intended that any company in the group, other than the company itself, will enter in any form of insolvency process which means that no employees, customers or suppliers are expected to be materially affected and all of Mouchel's trading subsidiaries will continue to trade as usual. "Shareholders will not receive any value for their shareholding from the Alternative Plan." The company will be suspended from the Stock Exchange in the meantime. Chief execuitve Grant Rumbles told CN earlier this month that the vote in favour of the bank buyout was the 'right thing to do'.
Company Profile: Mouchel
Source: New Civil Engineer
Contractor Costain has started 2012 robustly reporting a 27% increase in infrastructure turnover from £219M for the first half of 2011 to £280M for the first six months of 2012 alongside a 50% increase in pre-tax profits from £10.1M to £15.4M, its interim results reveal today.
Company Profile: Costain
Carillion's construction division saw profits surge by 69 per cent in the first half of 2012 as its operating margin climbed to 4.1 per cent.
Company Profile: Carillion
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