Abstracts » Construction and materials industries

H&H sees public sector orders halved

Article Abstract:

Construction group Higgs and Hill believes that it is unlikely that general contracting will return to profitability in the foreseeable future. The company's own public sector operation has seen orders halved, being badly affected by delays to private finance schemes and reductions in public expenditure. The construction division's order book was static at 230 million pounds sterling at the end of Jun 1995, with public sector work accounting for only 20%.

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Wimpey set to shake up construction arm

Article Abstract:

Wimpey's financial performance at a group level is strong, with pre-tax profit rising 77% to 45.1 million pounds sterling in the year to Dec 31, 1994. However, operating profit in the construction division fell 66%, and it may be necessary to transfer part of the UK contracting operations into quoted joint venture companies. Plans for cutting overheads are now being considered, and it is possible that jobs will be lost.

Planning, George Wimpey PLC

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Negotiated work helps H&H trim losses

Article Abstract:

Contractor, developer and housebuilder Higgs and Hill saw pre-tax profit rise by less than 1% in the year to Dec 31, 1994, from the previous year to 1.33 million pounds sterling. However, its core construction division enjoyed a recovery, reducing the 1993 loss by 89% to 223,000 pounds sterling. In the housing division, operating profit was up 11% to 2.7 million pounds sterling.

Single Family Housing Construction, 1-Family Housing, Residential construction, Single family housing

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