JCB issues warning despite sales hitting £6.5bn and profit surge amid housebuilding struggles Business JCB reported a steep 44.5 per cent rise in pre-tax profit to £805.8m, despite wider struggles in the UK housebuilding market.
Construction sector ‘turns a corner’ as housebuilding jumps Economics Tim Moore, economics director at S&P Global Market Intelligence, said the recovery in housebuilding was the "most notable development" in August.
Grenfell: Barratt says fixing widespread cladding issues will take up to five years Business Barratt has said there is a shortage of qualified fire engineers who are able to refit buildings to reliable safety standards in light of the Grenfell tower disaster. “We recognise that this will take another three to five years to work through to resolution,” chief executive David Thomas said in the company’s full-year results. “There [...]
Crest Nicholson shares slump as Bellway walks away from £720m takeover August 13, 2024 London-listed housebuilder Bellway has announced it will not make a firm offer to buy rival Crest Nicholson with the company stating that its “strong balance sheet” and land bank would be sufficient to fuel growth independently. Following the announcement Crest Nicholson’s shares slumped by just over 16 per cent to 221p per share. Bellway first [...]
Ibstock profit slashed as ‘exceptionally wet weather’ hits construction industry August 7, 2024 Sales and profit at building supplies company Ibstock has continued to fall as “exceptionally wet weather” badly affected the construction industry. The London-listed firm, which is headquartered in Leicestershire, saw its revenue drop 20 per cent to £178m in the first six months of 2024, down from £223m last year. Ibstock said this decrease was [...]
Taylor Wimpey: Housebuilder suffers dent to profit ahead of planning reform July 31, 2024 Housebuilder Taylor Wimpey suffered a dent to revenue and profit in a set of half year results in which it hailed the new government's "recognition" of planning laws as being a "major barrier" to housebuilding.
Fall in housebuilding contributes to easing construction activity July 4, 2024 The construction sector remained in expansion in June, a closely watched survey shows, although the rate of growth eased due to a slowdown in housebuilding.
Grafton revenue falls but group expects boost from Irish housebuilding blitz May 2, 2024 Grafton attributed the change to “prevailing macroeconomic conditions” as well as “exceptionally wet weather in Ireland”, which hurt demand.