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29th April 2013
Source: Construction News
Kier and May Gurney have announced they have reached agreement in principle on an offer of £221m for the support services firm, trumping the £178m offer of Costain last month.The acquisition represents a value of 315 pence per May Gurney share, or £221m in aggregate, and is subject to approval.Following completion of the acquisition, May Gurney shareholders will own approximately 27 per cent of the enlarged group, which will have a combined order book of around £5.7bn.
Company Profile: Kier
Source: New Civil Engineer
Contractor Bam Nuttall has announced a rise in pre-tax profit and margins for the year ending 31 December 2013.The contractor’s pre-tax profit rose to £18.1M for 2012, up from £14.8M the year before. The firm’s operating margins grew to 1.5% from 1.2%. Turnover was down however, from £809M to £730M.“The profitability of the UK companies improved in 2012 primarily as a result of careful market positioning, project selectivity and improved risk management and project execution,” said Bam Nuttal parent firm Royal Bam group board member Martin Rogers.
Company Profile: BAM Nuttall
Housebuilder Taylor Wimpey has praised government announcements as boosting the housing market and consumer interest, in an interim management statement.The firm said its sales performance was ”at the upper end of our expectations”, with customer interest up 15 per cent since the start of the year.The statement added that the recent Help to Buy scheme, announced in the budget, had seen “further significant increases” in interest, and that Housing market sentiment had been boosted by recent announcement.
Company Profile: Taylor Wimpey
Source: Construction Enquirer
The Ministry of Defence’s property arm has selected Crest Nicholson as its development manager to transform Arborfield Garrison into a major housing scheme. Crest Nicholson will work closely with DIO to fund, manage and lead the £600 development to deliver 2,000 homes at the Berkshire site. Subject to further agreement, Crest Nicholson will also progress the current planning position, lead the site development and manage the disposal process.
Company Profile: Crest Nicholson
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