Company News Roundup: 17th September 2013

 

Source: Construction News

 

Kier's pre-tax profits fell by £20m to £43m in the year to 30 June as its May Gurney takeover allowed for £500m in new bids in rail, highways and water. In its preliminary results released today, Kier said construction revenue was 5 per cent lower than 2012 at £1,308m (2012: £1,384m), something it attributed to poor weather in the first quarter of 2013 which caused delays and pushed revenues into the 2014 financial year.

 

Company:576440

 

 

Source: Construction News

 

Resurfacing the only major crossing of the Beauly Firth in Scotland provided several logistical challenges for Balfour Beatty.

 

The Kessock Bridge connects Inverness with the Black Isle, carrying the A9 dual carriageway trunk road north to the Highlands of Scotland. It is the only major crossing across the Beauly Firth and so plays a vital role in the road infrastructure of the Scottish Highlands.

 

 

Source: Construction Enquirer

 

Kier has joined the ranks of main contractors looking to roll out a reverse factoring payment system to ease cash flow in its supply chain. So far Balfour Beatty, VolkerWessels and Carillion have piloted or introduced payment schemes for subcontractors to speed up payments.

 

 

Galliford Try has won two London social housing contracts worth a total of £60m. The schemes, for housing association Peabody, are a £35.4 million scheme in Bow and a £24.9 million project in Newham. The Bow scheme, in Devons Road, consists of 259 homes and commercial space as the first phase of a four-phase development.