Construction

Construction SMEs at growing risk of failure

The latest Business Distress Index from Real Business Rescue, a division of insolvency accountants Begbies Traynor, reports an 11% rise in the number of construction companies that it considers to be “in significant financial distress” – reaching 79,570 for the fourth quarter of 2020. It sounds bad. But perhaps the bigger story is that, by Begbies' reckoning, a massive 92% of the 992,000...

Construction’s bounce-back starts to fade

After that record 41% fall in April 2020, construction output had been rebounding, growing every month – until now. According to the Office for National Statistics (ONS), December 2020’s output was down 2.9% compared to November, falling to £13,516m and its lowest level since August. December saw falls in both new work (3.8%) and repair and maintenance (1.5%). The December 2020 level of...

Construction profit warnings hit new high

Accountancy firm EY monitors all the statements put out London Stock Exchange listed companies. The FTSE Construction & Materials sector issued a record 33 profit warnings in 2020. We have previously reported that there were 28 profit warnings in the sector in the first nine months of 2020. The latest EY Profit Warnings Report reveals that there were a further five warnings in the final...

Smart Living: The Latest Smart Home Tech to Add to Your Home

Living in a smart house used to only exist in sci-fi movies. Fast forward to today and connected homes and smart gadgets are quickly becoming the norm. Smart home tech has transformed every aspect of home life, from security and basic kitchen tasks to how a house is built. It’s making our lives more comfortable, economical, convenient, and safe. If you haven’t upgraded your home with the latest tech...

Construction urged to embrace direct employment

According to a new report on industry employment structures, the increasing prevalence of self-employment, casual labour and off-payroll working has damaged construction productivity and skills. The report, Direct Employment – a study of economic, business and social outcomes based on the electrical contracting sector, is written by Howard Gospel, emeritus professor of management at King’s College...

PRIME MINISTER IMRAN KHAN TO LAUNCH “CPEC CITY” PROJECT IN KPK

  Federal Minister for Defence Pervez Khattak has revealed that Prime Minister of Pakistan Imran Khan would initiate development work on the Rashakai 'China-Pakistan Economic Corridor (CPEC) City' on November 18, 2020. "The city will be constructed under CPEC and will consist of education and commercial zones, public buildings, apartments, golf course, theme park and sports facilities," revealed the...

Where Is Pakistan’s Cement Industry Headed As The Government Boosts The Construction Sector?

The cement industry of Pakistan has seen rapid growth in recent months, which is widely attributed to the tax amnesty scheme introduced by the government in April 2020. However, on Jan. 1, 2021, the government extended the same amnesty till the end of this year to keep the economy running amid the coronavirus pandemic. While most economies around the world struggled amid the pandemic, Pakistan...

What Is Soil Testing Report? Why Is It Important for Construction?

Undertaking a construction project is a daunting task that needs to be properly planned and executed, with little or no chances of error. The pre-construction phase is probably one of the most important stages of a construction project.  It is the planning and preparation period for the project, right before the beginning of the construction activities. IMPORTANCE OF SOIL TESTING IN CONSTRUCTION:...

Private equity takes over Premier Modular

Premier Modular, a manufacturer of temporary and permanent modular buildings for hire or sale, plans to use the money that Cabot Square is putting in to grow the business 50% within three years. The purchase price has not been disclosed. Premier Modular, formerly Waco UK, was previously subsidiary of South African group Waco International. Cabot Square is a London private equity outfit that also...

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