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1st July 2013
Source: Construction News
Balfour Beatty has announced the sale of its stake in Exeter Airport to Patriot Aerospace, the aviation branch of Rigby Group Plc.It had been reported that the infrastructure giant had been seeking bidders for the 60 per cent stake in May, amid pessimism over future passenger numbers. The carrying value of Balfour Beatty’s investment had been written down to nil in 2012, with proceeds from the sale being used to repay the funders.
Company Profile: Balfour Beatty
Costain has won contracts worth around £900m in the first half of 2013, it announced in a trading update this morning. Its forward order book has increased from £2.4bn as at 31 December 2012 to £2.9 billionand the firm said it was preferred bidder on more than £500m worth of deals. Awards announced include itsappointment to Thames Water’s AMP6 investment programme, as revealed by Construction News.
Company Profile: Costain
Morgan Sindall yesterday sold off an £8.4m interest in the Miles Platting PFI social housing scheme, worth an estimated £320m. The PFI contract was signed in 2007 between Manchester City Council and the Renaissance Consortium – consisting of Lovell, investment body IIC, and housing association Adactus. It involves the investment of £160m of public money, with a similar amount coming from the private3 sector.
Company Profile: Morgan Sindall
Bouygues UK is set to recover the £50m revenue it lost in 2011 after a surge in housing activity, according to executive chairman Madani Sow.Mr Sow also revealed to Construction News that he is expecting another 20 per cent hike in housing completions in 2014 and the same again in 2015. Bouygues UK saw a drop in revenue from £200m in 2010 to £145m in 2011 after handing over two PFI assets and the loss of projects after the government scrapped the £55bn Building Schools for the Future programme.
Company Profile: Bouygues
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