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Taylor Wimpey sees 15% boost in interest

Source: Construction News 

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. The firm said positive market trends were continuing, led by the South East, although mortgage lending continued to be the “principal constraining factor”.

Company Profile: Taylor Wimpey 

Balfour Beatty issues £50m construction profit warning

Source: Construction News 

Balfour Beatty has announced that its UK construction business is expected to deliver "significantly lower profits" in 2013 than expected, as group chief executive Andrew McNaughton takes personal control of the construction business.In a statement to the City, the firm downgraded the forecasts made in full-year results in March by £50m, due to “extremely tough conditions” which have “deteriorated significantly” in the second half of 2012.The construction and infrastructure giant booked a £37m construction loss in March after an extensive restructure in 2012. Changes in procurement trends were said to have persisted, with clients imposing tough conditions on contractors and subcontractors working under “considerable financial strain”.

Company Profile: Balfour Beatty 

Bouygues sells Thomas Vale civils arm Fitzgerald

Source: Construction News

Bouygues UK has sold Thomas Vale's UK civil engineering business Fitzgerald to its managers as the French-owned firm focuses on building and property. The management buyout was led by the subsidiary’s managing director Nick Coley. Fitzgerald has a £24m turnover and employs 100 people. Bouygues said its UK activities were predominately focused on the building and property development sectors “and a decision has therefore been taken to divest Fitzgerald as their activities are seen as non-core to the ongoing Bouygues UK operations”.

Company Profile: Bouygues UK 

Muse lands £100m new Aberdeen quarter 

Source: Construction Enquirer 

Aberdeen City Council has named Morgan Sindall’s urban regeneration arm Muse as preferred developer for a £100m mixed-use quarter. Muse in joint venture with Aviva Investors will lead the redevelopment of the council’s previous headquarters site, known as St Nicholas House. The proposal is to build offices, a boutique hotel, restaurants and shops around a small civic square. The council will lease the development from Muse and receive a proportion of the rental profits for 35 years, after which the site and development will transfer into council ownership.

Company Profile: Muse Developments

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