House builder Berkeley Group has come out second worst of an analysis of corporate governance at FTSE 100 companies. It would appear that authors of the study are not convinced by chairman Tony Pidgley’s £21 million remuneration package, or on Rob Perrins pocketing £11 million. However, it seems that shareholders
Permission has been granted for Yorkshire Water’s proposed £72 million new state of the art sludge treatment and anaerobic digestion facility at its Knostrop works in the heart of Leeds. Leeds City Council’s planning committee approved the firm’s planning proposal for the bio-energy facility. The contract has been awarded to
The latest research from Savills shows that house prices in areas surrounding the top 10 performing state secondary schools in Scotland are 58% above the average for the country as a whole. Savills says that a large proportion of buyers cite their children’s education as a primary factor when deciding
Express Reinforcements Limited (ERL) is in line to secure a £100 million contract to supply 200,000 tonnes of reinforcing steel for the proposed Hinkley Point C nuclear power station in Somerset. ERL is the preferred bidder for the contract, with BYLOR, the joint venture between Laing O’Rourke and Bouygues TP.
House builder Berkeley Group has come out second worst of an analysis of corporate governance at FTSE 100 companies. It would appear that authors of the study are not convinced by chairman Tony Pidgley’s £21 million remuneration package, or on Rob Perrins pocketing £11 million. However, it seems that shareholders in the company are not bothered by this too much. The study also found that none of the construction industry’s FTSE 100 firms came out well from the corporate governance study, with only Barratt Developments making the top 50. The Institute of Directors 2016 Good Governance Report examined the 34 factors across five areas of corporate governance: stakeholder relations and shareholder relations, remuneration and reward, audit and risk/external accountability and board effectiveness. The choice of these criteria was determined by the UK Corporate Governance Code and the Companies Act 2016. The Good Governance ranking is headed by the following organisations: British America Tobacco Unilever Diageo Sage Group Next Kingfisher DS Smith United Utilities Group Royal Mail Admiral Group Meanwhile, companies from the construction sector featured as follows: Barratt Developments Wolseley Persimmon Ashtead Taylor Wimpey Travis Perkins Berkeley Group The study was supported by the Chartered Quality Institute and Cass Business School, while Tesco came out bottom of the pile. Head of Profession at the Chartered Quality Institute, Estelle Clerk, commented: “Good governance requires more than a stated intent. It requires a profound understanding of how principles of good governance are implemented and delivered at every level of a company and its delivery partners. “For the construction sector, working with a diverse supply chain in order to deliver key projects, this is especially challenging. Our intention in supporting the Good Governance Report is to stimulate discussion on what constitutes good governance and how this can be demonstrated.”
Permission has been granted for Yorkshire Water’s proposed £72 million new state of the art sludge treatment and anaerobic digestion facility at its Knostrop works in the heart of Leeds. Leeds City Council’s planning committee approved the firm’s planning proposal for the bio-energy facility. The contract has been awarded to Black & Veatch, with Clugston Construction to deliver the civil engineering element. Knostrop wastewater treatment works has been treating sewage from domestic properties and industry for around 100 years. The existing sludge and bio-solid incinerator, which was constructed in 1993, will be replaced by the new facility to enable the more effective and efficient treatment of sewage combined with the added benefit of renewable power production from the wastewater effluent. Director of Asset Management at Yorkshire Water, Nevil Muncaster, commented: “This is the single biggest investment of our current investment period (2015-2020) and will not only provide increased treatment capacity for our sludges but will also deliver significant operational cost savings enabling us to keep customer bills as low as possible. “Knostrop is designated as a strategic waste site so by increasing the future sludge and bio-solid treatment capacity of the works the project will support also growth in the Leeds sub-regions.” The facility is planned to be complete in 2019 and will have the capability to process 131 tonnes of dry sludge daily, and will generate enough renewable energy, using power and heat engines, to provide 55% of Knostrop’s energy needs. Among the benefits of the new facility are: 15 per cent reduction in carbon emissions across the company Provide 55 per cent of the site’s energy needs Contribute to achieving 94 per cent recycling of the region’s sludge by 2020. The project is Yorkshire Water’s latest step in committing to invest in renewable energy to benefit the environment and keep customer bills low.
The latest research from Savills shows that house prices in areas surrounding the top 10 performing state secondary schools in Scotland are 58% above the average for the country as a whole. Savills says that a large proportion of buyers cite their children’s education as a primary factor when deciding where to live, and the latest research has shown that homes situated close to well performing schools attract a significant premium. The gap between average residential property prices in Scotland as a whole and in areas surrounding Scotland’s top 10 schools has widened significantly, from 51% in the year up to June 2015 to 58% in the year ending June 2016. Two key locations in particular boosted the rise. These were in Edinburgh South, where Boroughmuir High School is based, as prices rose by 15%, and the Gaelic School Glasgow where prices rose by 18%. Head of Research for Savills in Scotland, Faisal Choudhry, commented: “This is in line with recent research from Savills which revealed that prime city locations have been leading Scotland’s property market recovery, both in terms of price and number of sales. “House prices in Houston in Renfrewshire where Gryffe High School is located rose by 5%. Areas around the remaining seven top performing schools remained more or less stable, although the number of sales rose.” Choudhry added that Scotland has just 100 independent schools, though many of these are internationally owned and educate children, not only from throughout Scotland but also from much further afield. However, he added that with average day fees being £10,773 and £27,936 for boarders per child (in the academic year 2015/2016), it is little wonder that a significant proportion of parents are choosing to wear the one-off premium to buy in areas where there is a top-performing state secondary school.
Express Reinforcements Limited (ERL) is in line to secure a £100 million contract to supply 200,000 tonnes of reinforcing steel for the proposed Hinkley Point C nuclear power station in Somerset. ERL is the preferred bidder for the contract, with BYLOR, the joint venture between Laing O’Rourke and Bouygues TP. Spanish firm Celsa Group acquired Express Reinforcements in 2009. Along with ROM Group and BRC Ltd it forms Celsa Steel UK. Express is based in Neath and has a Newport manufacturing facility, using steel produced by Celsa Steel in Cardiff. Andy Lodge, Managing Director, commented: “We are pleased to be the preferred supplier of reinforcing steel to this contract through BYLOR. It cements long-term relationships and puts Express at the forefront of reinforcing steel supply, having already been a major supplier to other key infrastructure projects such as Crossrail and Heathrow Terminal 5. “It shows that our proven track record in delivering on these significant projects is highly valued and local, responsibly-sourced steel to the highest quality standards (Eco-Reinforcement/BES 6001) is fundamental to all involved on this construction.” Meanwhile, Martin Westbury, Project Director at BYLOR, said that the Laing O’Rourke/ The Bouygues TP joint venture is pleased at the prospect of working with Express Reinforcements as their preferred bidder for the Hinkley Point C project. Westbury added that the choice supports their strategy of working with the UK supply chain wherever possible, using materials sourced from the UK. At present, BYLOR is working closely with EDF Energy to prepare the Hinkley Point C site for the main construction programme, so that work can commence straight after full governmental approval is received. EDF Energy, which has plans in place to build the power station, said: “In February this year, said that Hinkley Point C would be a significant opportunity for UK steel.
