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Morgan Sindall sells stake in £320m social housing PFI

Source: Construction News 

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 recovers £50m in revenue

Source: Construction News 

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: Bouygeus 

Balfour Beatty sells Salford PFI hospital stake

Source: Construction News

Balfour Beatty has announced the sale of its 50 per cent stake in Salford hospital PFI to an international infrastructure group. The sale of the stake to a subsidiary of HICL Infrastructure Company for a £22m generated a gain on disposal of £11.5m. Balfour Beatty chief executive Andrew McNaughton said: “It is pleasing to see that our strategy of regular asset disposals to release some of the accumulated value in our portfolio continues to deliver additional income and cash to the Group.

Company Profile: Balfour Beatty

Galliford hails record profits as new 'consensus' in housing

Source: Construction News 

Galliford Try has posted record profits since May in what the group calls "the current market consensus". With strong housebuilding performance resulting in a record land bank and year end sales, analysts are forecasting adjusted profit before tax for the year ending 30 June at £72m to £75m. In a trading update to the city, the housebuilder and contractor also posted net debt down from £58m at year-end to less than £20m at 30 June.

Commpany Profile: Galiford Try 

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