Garforth based LNT Group has reported an operating profit of £23 million for this year throughout the group’s five core companies. Around 2,000 people are employed by the group, which is made up of Ginetta, LNT Solutions, LNT Software, LNT Construction and Ideal Carehomes. The accounts have been published after
The South Devon Highway has picked up another major national award. At the British Construction Industry awards, the link road scheme won the Community Engagement Award. The project team, made up of WSP Parsons Brinckerhoff, Torbay Council, Devon County Council, construction firm Galliford Try and its designer Ramboll, accepted the
In the past 18 months, more than 5,000 steel jobs have been lost, with major events including the collapse of SSI in Redcar, Caparo going into administration, and Tata putting its UK operations on the block. Britain’s steel industry remains in crisis as it buckles in the face of
Amec Foster Wheeler is to collaborate with China Nuclear Engineering & Construction (Group) Corporation (CNEC) on the next generation of reactors. The wide-ranging agreement with the Chinese nuclear power plant constructor covers potential collaboration in the nuclear industry. It is the first time CNEC has agreed to collaborate with a
Value of work in progress 4% higher than the same quarter in 2014 Architecture profession in positive territory despite dip in workload and staffing indices The RIBA Future Trends Workload Index fell a little further in October 2015, standing at +18 (down from +21 in September). This suggests
The chancellor’s Autumn Statement has revealed that the government is set to invest over £1 billion into upgrading the UK’s road network to improve road congestion. Philip Hammond will commit to spending over £1.3 billion to help ease congestion on the country’s roads. Included in this investment is £1.1 billion
Construction firm Willmott Dixon has set up a new Farnborough office as it hopes to generate a £100 million pipeline of work in the next four years in Dorset, Berkshire, Wiltshire and Hampshire. The group said its base at the Farnborough Business Park, which is home to 25 members of
In her first address to the CBI Annual Conference later today, Prime Minister Theresa May is to reveal a £2 billion annual research boost, as part of the government’s Industrial Strategy. It is being suggested that May will use her speech to outline the ways her government will step up
Facilities management group Mitie has delivered a further profit warning and has moved away from the care business. Along with reporting a slide into losses in the first half and cutting its dividend, Mitie said that the second half of the year should see an improvement. However, the full year
Warrington contractor Morris & Spottiswood has acquired Cumbrian maintenance specialist LLED Construction into its maintenance division for an undisclosed fee. The North West fit out company, which has a reported turnover of £88 million, bought-out founding owner Dee Addison, who will carry on working in his role as the principal
Garforth based LNT Group has reported an operating profit of £23 million for this year throughout the group’s five core companies. Around 2,000 people are employed by the group, which is made up of Ginetta, LNT Solutions, LNT Software, LNT Construction and Ideal Carehomes. The accounts have been published after the decision by LNT to refocus the care aspect of its business as both a developer and an operator. A major reinvestment has been made in Ideal Carehomes with an above living wage increase for its staff, improvements to the built environment and a focus on offering active lifestyles in the home. Furthermore, LNT took the chance to concentrate on its development and construction businesses. Reflecting the expansion of services in the care sector, LNT built on its turn-of-key offer to include assisted living facilities. Demand kept growing from third party operators for new purpose built care facilities which allowed LNT to build a strong pipeline of sites and pre sold facilities. The accounts state that LNT Construction and LNT Care Developments are on track to be on 13 sites by the end of the current financial year. LNT Chief Executive, Matt Lowe, commented: “We are such a forward-looking company that we’re always thinking about the next innovation or expansion, so preparing the accounts is a great moment to reflect on the progress we’ve made. “As ever, it’s been a fastmoving year with lots of changes within the businesses, typical of the entrepreneurial flair the company has inherited from its Founding Chairman, Lawrence Tomlinson. “With the improvements we’ve been making in Ideal Carehomes, and the successful drive to ramp-up our construction activity, I am delighted by how much progress we’ve already made this year.“ The LNT results also reveal that race car manufacturer Ginetta saw an increase of 28.5% in turnover. Improvements to its car range means Ginetta now offers a full portfolio of GT and prototype race cars which has led to growing demand from international markets, in particular for the G57 sports prototype range. LNT Chairman Lawrence Tomlinson has described this year’s figures as “brilliant”.
The South Devon Highway has picked up another major national award. At the British Construction Industry awards, the link road scheme won the Community Engagement Award. The project team, made up of WSP Parsons Brinckerhoff, Torbay Council, Devon County Council, construction firm Galliford Try and its designer Ramboll, accepted the prize at the London awards ceremony. They are considered the UK’s most prestigious awards for the entire built environment. The project has won a number of awards since it opened, including a gold Green Apple award for its environmental activities, a regional Chartered Institution of Highways and Transportation South West award, an institute of Highway Engineers award, a gold Considerate Constructors award and two Institute of Civil Engineering regional awards. Devon County Council cabinet member for economy and growth, Cllr Andrew Leadbetter, commented: “Building the South Devon Highway was highly complex, involving many partners and engineering challenges. “The proximity of the project to residents meant engaging with the community was crucial to the success of the project. This award is therefore formal recognition of our thorough communication with residents and motorists throughout the project.” Gordon Oliver, mayor of Torbay, said: “This is brilliant news for the project and is well deserved. “We know the community engagement activities, including setting up a community liaison group, all helped to keep people informed of activity on the project and helped activity to progress smoothly.” Chris Hastings, Galliford Try project director, added: “The award is a tribute to the huge effort made by the team. “Close collaboration and strong working relationships with the community played a huge part in the project staying on programme. “The community was kept informed of developments at all times and had a say in the construction process through the community liaison group.” The scheme also received a highly commended rating in the major civil engineering project of the year (over £50 million) category and was shortlisted in the low carbon construction, judges special and Prime Minister’s better public building categories.
In the past 18 months, more than 5,000 steel jobs have been lost, with major events including the collapse of SSI in Redcar, Caparo going into administration, and Tata putting its UK operations on the block. Britain’s steel industry remains in crisis as it buckles in the face of competition from state-subsidised Chinese imports, high energy costs and a less favourable property tax regime than enjoyed by European rivals. Steel industry bosses and unions have long warned that a toxic mix of high business rates, rising energy and environmental costs, and the lack of a state-backed industrial policy are threatening Britain’s much-vaunted manufacturing renaissance. So will the recent business rates revaluation help the situation? The Government has now adjusted the Rateable Values of every business property in England and Wales to reflect changes in the property market. The new Rateable Value will be used to determine the basis of the tax calculation for rates next April. The revaluation of business properties usually happens every 5 years but was controversially delayed by 2 years as a result of the economic downturn. The last revaluation came into effect on 1st April 2010 based on the property market as long ago as 1st April 2008. What is a business rates revaluation? The purpose of a business rates rating revaluation is to achieve fairness by ensuring that tax liabilities are based upon up-to-date rental values. As a consequence, revaluations create ‘winners’ and ‘losers’ as ratepayers’ liabilities are shifted in line with relative movements in property values since the previous revaluation. Those whose properties have performed better than their peers – by dint of the quality of their property, location or business sector – since the previous revaluation can expect to see their bills rise. Equally, those whose properties have underperformed can expect to see their bills fall. Business rates for construction sites in Wales set to fall by over 20% In Wales, where property taxes such as business rates are devolved, the Welsh Government has signalled that there will be no cap on downward tax movements, i.e. no transitional relief scheme, other than for those ratepayers whose eligibility for small business rate relief is affected as a result of the revaluation of properties. The upshot is that the Steel industry in Wales will see the full and immediate benefit of falling rateable values next year. According to CVS business rates specialists, Tata Steel at Port Talbot has seen their property assessment fall from £20.9m to £16.88m- a 19% drop. This year the site paid £10.16m in business rates but, from April next year, CVS projects that will drop to £8.42m. CVS surveyors also suggested that across the 5 main Steelwork sites in Wales, rateable values have fallen from between 16% to 29%, and the total rates payable, i.e. the business rates bills, will fall next April by a quarter from £16.64m to £13.26m. However, in England, the picture is very much different. Transitional Relief in England The problems caused by 5, and recently 7, yearly revaluations are aggravated further for some by the impact of Transitional Relief. The Transitional Relief scheme exists to cushion and phase in increases in bills for those ratepayers who would otherwise see significant increases in their rates liability. This relief is paid for in part by limiting the amount that bills can fall for ratepayers who would otherwise see a significant reduction. Under the scheme, limits continue to apply to yearly increases and decreases until the full amount is due. The Government has issued a consultation on a new transitional relief scheme for implementation of the 2017 revaluation, with two options indicating that option 2 is their preference. Therefore, in England, unlike Wales, a downward cap will apply to large reductions in rateable values for Steelworks and any large business. In year 1, Steelworks and large businesses will effectively be limited to a 4.1% downwards cap. The outlook for construction in England England’s largest steelworks in Scunthorpe has seen its rateable value plummet from £26.66m to £22.48m, a 16% drop. This year the plant will pay £13,250,020 in business rates but next year, without any downward cap, that would be £10,790,400 say CVS business rates specialists. However, the Government’s downward cap means next year the bill will only fall marginally to £12,889,379. Across the 10 main steelworks still remaining in England, CVS says rateable values have fallen by 17.57%, and if no downward cap was in place, as in Wales, they too would similarly save a quarter on their rates next year ; equating to 20.39% or £5.35m. The consequences of the 4.1% downward cap, say CVS, is that steelworks next year will only actually see a drop in real terms of 4.37% in their actual rates payable and only save £1.14m, £4.2m shy of what they would have saved if no transitional relief was applied as in Wales. Conclusion The revaluation in England and Wales of steelworks is undoubtedly good news. Rateable values have fallen. However, given the position of devolution of rates, and a very different position taken by the Welsh Government and Department for Communities & Local Government on how to deal with the volatility, the unintended consequences is to create a far more lucrative property tax incentive in Wales at the expense of their English counterparts. Mark Rigby, CEO of business rates specialists, CVS says; “Welsh steelworks will pay a quarter less in business rates next year as a result of the revaluation, saving the sector £3.38m across the 5 main plants. “Steelworks in England however, have seen rateable values drop by 17.57% on average, but given the effects of transitional relief, their overall bills will only fall by 4.37%, meaning their savings are £4.2m shy of what they should be. “If they were comparable to their Welsh counterparts their bills overall would fall by 20.39%. “The stark contrast here is frankly unbelievable for a sector in such crisis. “The Prime Minister’s new administration is signalling a willingness to think differently on economic
Amec Foster Wheeler is to collaborate with China Nuclear Engineering & Construction (Group) Corporation (CNEC) on the next generation of reactors. The wide-ranging agreement with the Chinese nuclear power plant constructor covers potential collaboration in the nuclear industry. It is the first time CNEC has agreed to collaborate with a global engineering consultancy on the deployment of high-temperature reactors in the UK and internationally. “High-temperature reactors have great potential to provide safe, clean and sustainable energy for the future,” said Tom Jones, vice president of Amec Foster Wheeler’s Clean Energy business. “We hope that our collaboration with CNEC will help the UK and China to realise the potential benefits of this tremendously important technology.” Zu Bin, vice president of CNEC said: “The high-temperature gas cooled reactor is inherently safe and can generate electricity efficiently and competitively for power generation, heat supply and desalination.” The agreement was signed in Beijing as part of a nuclear industry trade mission organised by UK Trade & Investment and the China-Britain Business Council. Amec Foster Wheeler and CNEC have committed themselves to work together to develop opportunities in nuclear power development, construction, operation and decommissioning projects globally. They will also identify specialist knowledge that each can contribute towards reactor outage management, operation, ageing management, lifetime extension and upgrading of existing units. The scope of the agreement also covers training, waste management and decommissioning. It is expected that CNEC will make use of Amec Foster Wheeler’s new High-Temperature Facility in the UK, which will carry out research and testing on materials capable of withstanding temperatures of up to 1,000°C. This article was published on 8 Apr 2016 (last updated on 8 Apr 2016). Source link
Value of work in progress 4% higher than the same quarter in 2014 Architecture profession in positive territory despite dip in workload and staffing indices The RIBA Future Trends Workload Index fell a little further in October 2015, standing at +18 (down from +21 in September). This suggests that practices are now more cautious than they were during 2014 and the first part of 2015. All nations and regions in the UK nonetheless returned positive balance figures. In October 2015, practices in Northern Ireland (balance figure +25) were most optimistic about medium term workload growth; in the Midlands and East Anglia (balance figure +12) there is a greater sense of a temporary peak being reached. Large practices (51+ staff, balance figure +57) are significantly more optimistic about future prospects than either medium-sized (11–50 staff, balance figure +17) or small practices (1–10 staff, balance figure +16). The private housing sector workload forecast rebounded further in October, rising to +25 (up from +21 in September). The community sector forecast also saw a modest rise, standing at +3 (up from +1 in September). Meanwhile, the commercial sector workload forecast fell to +7 (down from +13 in September); the public sector workload forecast was unchanged at –3. The survey also showed that the value of work in progress is 4% higher than in the same quarter in 2014. The RIBA Future Trends Staffing Index fell back somewhat this month to +9 (down from +12 in September). Nevertheless the Staffing Index remains in positive territory. Large practices (balance figure +29) were more optimistic about future staffing levels, compared with medium-sized (balance figure +4) and small practices (balance figure +9). Participating practices report that they are now employing 3% more staff than this time last year. RIBA Executive Director Members Adrian Dobson said: “The market for architectural services remains buoyant, but with a clear sense that there has been something of a slowdown in the overall pace of growth in the last few months. “The 4% increase in the value of work in progress, compared with the equivalent quarter in 2014, shows a continuing very healthy rate of annual growth. This is nevertheless a step down from the rates of 8–10% that we saw consistently throughout 2014 and early 2015, and shows some cooling in the overall market for architectural services. “Mirroring the trend in the Workplace Index, the RIBA Future Trends Staffing Index also declined this month; our practices are now sounding something of a note of caution about future staffing levels. Still, there continues to be plenty of anecdotal evidence of practices having difficulties recruiting staff with the levels of skills and experience that they are looking for.” ENDS Notes to editors: For further press information contact Howard Crosskey in the RIBA press office: howard.crosskey@riba.org 020 7307 3761 The Royal Institute of British Architects (RIBA) champions better buildings, communities and the environment through architecture and our members. Visit www.architecture.com Follow @RIBA on Twitter for regular updates www.twitter.com/RIBA Completed by a mix of small, medium and large firms based on a geographically representative sample, the RIBA Future Trends Survey was launched in January 2009 to monitor business and employment trends affecting the architects’ profession. The Future Trends Survey is carried out by the RIBA in partnership with the Fees Bureau. Results of the survey, including a full graphical analysis, are published each month at: http://www.architecture.com/RIBA/Professionalsupport/FutureTrendsSurvey.aspx To participate in the RIBA Future Trends Survey, please contact the RIBA Practice Department on 020 7307 3749 or email practice@riba.org. The survey takes approximately five minutes to complete each month, and all returns are independently processed in strict confidence The definition for the workload balance figure is the difference between those expecting more work and those expecting less. A negative figure means more respondents expect less work than those expecting more work. This figure is used to represent the RIBA Future Trends Workload Index, which for October 2015 was +18 The definition for the staffing balance figure is the difference between those expecting to employ more permanent staff in the next three months and those expecting to employ fewer. A negative figure means more respondents expect to employ fewer permanent staff. This figure is used to represent the RIBA Future Trends Staffing Index, which for October 2015 was +9 Posted on Thursday 26th November 2015 Source link
The chancellor’s Autumn Statement has revealed that the government is set to invest over £1 billion into upgrading the UK’s road network to improve road congestion. Philip Hammond will commit to spending over £1.3 billion to help ease congestion on the country’s roads. Included in this investment is £1.1 billion for the upgrade of local roads and a further £220 million for Highways England to tackle “pinch points” on the motorways and major A-road throughout England. Previously, the treasury said that road congestion is costing the UK economy £13 billion each year and that 100 million working days may be lost by 2040 unless action is taken immediately. One of the projects set to take place is the £27 million expressway that will connect Cambridge, Oxford and Milton Keynes, which was recommended by the National Infrastructure Commission in last week’s report into East-West transport links. This was the first part of infrastructure spending that was announced by the government as part of the Autumn Statement. Reports have suggested that the chancellor may borrow £15 billion to go towards energy, rail, road and other infrastructure schemes. In September, the chancellor told MPs that the government would focus on “modest and rapidly deliverable investments” as part of the Autumn Statement. Mr Hammond said: “By investing in our national infrastructure and skills, we can do even better than before; we can improve our historically low levels of productivity and up our game even more. “For too long, taxpayer-funded investment hasn’t been sufficiently targeted on generating economic returns for the country. On my watch, it will be.” Days before the Autumn Statement was released, Hammond said that the UK economy must be “watertight” to cope with “sharp” challenges ahead of Brexit. Hammond refused to be drawn on his plans, but stressed economic “credibility” was key.
Construction firm Willmott Dixon has set up a new Farnborough office as it hopes to generate a £100 million pipeline of work in the next four years in Dorset, Berkshire, Wiltshire and Hampshire. The group said its base at the Farnborough Business Park, which is home to 25 members of staff, will now serve as a platform to grow and as a gateway to the four counties. This will allow Willmott Dixon to “pursue an increase in construction opportunities”. Deputy Managing Director for Willmott Dixon’s construction business in the southern counties, Richard Poulter, will also be based at the new office. Among the company’s notable projects in the area are: a new campus hub at Bournemouth University, Hart Leisure Centre in Fleet, Chippenham Campus for Wiltshire College, the mixed-use Centenary Quay development in Southampton, Warfield Primary School in Bracknell and Urban Village hotel in Portsmouth. Poulter commented: “We are seeing a surge of activity, both in the public and private sectors across the region, so Farnborough is an ideal location to open a new office. “Our structure is based on making sure we have locally based teams for our customers and the office will expand our ability to focus exclusively on Hampshire, Dorset, Wiltshire and Berkshire, where we have already delivered notable work. “Our goal is to generate a turnover of £50m by 2018 across the region, rising to £100m in 2020, and we’ll be creating new jobs along the way as part of our focus to use local companies whenever possible.” At the start of November, Willmott Dixon recruited former GLA deputy mayor for housing, Richard Blakeway, to its housing development arm. He will work as a strategic advisor to Willmott Residential, which was set up in May 2016 to grow the group’s residential development pipeline. Blakeway was deputy mayor for housing at the Greater London Authority (GLA) between 2008-2016.
In her first address to the CBI Annual Conference later today, Prime Minister Theresa May is to reveal a £2 billion annual research boost, as part of the government’s Industrial Strategy. It is being suggested that May will use her speech to outline the ways her government will step up to the task and get the economy back on track by announcing plans to secure the long term commitment of the UK to innovation and research. Included in this will be significant real terms increases in government investment worth £2 billion each year by 2020 for development and research. This is said to ensure that British business will stay at the cutting edge of scientific and technological discovery. Furthermore, the PM will announce a new Industrial Strategy Challenge Fund to support priority technologies, such as robotics and biotechnology, where the UK has the potential to turn strengths in research into a global industrial and commercial lead. It is expected that May will say: “Our modern Industrial Strategy will be ambitious for business and ambitious for Britain. “It is a new way of thinking for government – a new approach. It is about government stepping up, not stepping back, building on our strengths, and helping Britain overcome the long-standing challenges in our economy that have held us back for too long. “It is about making the most of the historic opportunity we now have to signal an important, determined change.” Meanwhile, May hinted that she could pursue an interim Brexit deal with the EU as part of the UK’s exit negotiations. The Prime Minister was grilled over an apparent call from the group’s president Paul Drechsler for a stopgap arrangement with Brussels. Asked whether she would back a transitional period between the end of Article 50 negotiations and a permanent new relationship between the UK and the EU, Mrs May said: “Obviously as we look at the negotiation, we want to get the arrangement that is going to work best for the UK and the arrangement that’s going to work best for business in the UK.
Facilities management group Mitie has delivered a further profit warning and has moved away from the care business. Along with reporting a slide into losses in the first half and cutting its dividend, Mitie said that the second half of the year should see an improvement. However, the full year turnout is still expected to fall short of expectations. The FTSE 250 listed firm has made the call to exit the domiciliary healthcare market, placed the company under strategic review and written off all healthcare goodwill and intangibles, as the division reels from downward pressure on rates and a reduction in care volumes. The firm had warned two months ago that performance in the six months up to September 30 was being hit by changing market conditions, with firms throughout the UK adjusting to economic uncertainty and increasing labour costs by making short term reductions in higher margin project work and discretionary spending. Although revenue went down by just 2.6% to £1.09 billion, the change in mix and lower discretionary spend saw margins squeezed and operating profits fell by 39% to £35.4 million, while the write-offs in healthcare saw Mitie plunge into a £100.4 million pre-tax loss compared to a £45 million profit a year ago. This reflected £128.1 million of charges, including impairments and writing off of healthcare goodwill and acquisition-related intangible of £117.2 million and restructuring costs of £6 million. Chief Executive Ruby McGregor-Smith, who will step down next month after 10 years at the helm, commented: “The first half of this year has been difficult but we are not alone in facing significant macroeconomic challenges. “The steps we have taken to counter these impacts include the restructuring of both frontline and support functions across FM and the decision to withdraw from the domiciliary care market.” As the previous year’s earnings per share revered into a 29.5p loss, the interim dividend was cut to 4p from 5.4p last year.
Warrington contractor Morris & Spottiswood has acquired Cumbrian maintenance specialist LLED Construction into its maintenance division for an undisclosed fee. The North West fit out company, which has a reported turnover of £88 million, bought-out founding owner Dee Addison, who will carry on working in his role as the principal of LLED Construction. All employees of LLED are set to be kept on. MD of Morris & Spottiswood UK Group, Jon Dunwell, commented: “We have worked with LLED Construction for more than 15 years and they have been a key partner throughout this period. “This gives us confidence in the acquisition as we have built a strong relationship centered around trust. LLED have been involved in many of our projects including both reactive and planned maintenance works for clients around the Scottish border territory and North of England. “LLED has a first class reputation in the industry for its reliability, accuracy, speed, quality of service and professionalism. The firm benefits from an excellent track record for developing and delivering for its clients including Weatherspoon’s, Heineken, Spar and Edinburgh Woollen Mill. He said that an important part of the transaction will also see the company retain the services of Addison, who he said has been the driving force behind LLED Construction’s success since day one. He continued: “Dee will be bringing considerable knowledge and experience which will be greatly valued within Morris & Spottiswood’s maintenance department. “We have worked in partnership with Morris & Spottiswood for many years and I believe the firm is ideally placed to take ownership of LLED Construction. “One of LLED Construction’s greatest assets is its highly experienced workforce which has played an instrumental role in making the business the success it is today. “They will all be retained under the new ownership joining forces an equally talented and driven workforce at Morris & Spottiswood.”