News

Construction hit its fastest level of growth in six years, according to the latest survey of the building sector.

Rebel investor seeks EGM to oust Tay board

A REBEL investor in Tay Homes is expected to step up its battle to oust the housebuilder's board today by requisitioning an extraordinary general meeting.

Housebuilder Tay fights off rebel investor

TAY HOMES, a small Northern housebuilder, yesterday angrily rejected proposals by a major shareholder for a complete overhaul of the board.

Jackson's pounds 1m

PETERHOUSE GROUP, the construction services company, yesterday announced that it had made an agreed all-share offer for Jackson Group, the civil engineering company, which values Jackson at pounds 18.9m or 88p per share.

A-Z of Higher Education Colleges: Bolton Institute of Higher Education

Age: 174, if you date it from the birth of the Bolton Mechanics Institute.

Laing building chief quits in shake-up

JOHN LAING, the construction group, yesterday replaced the head of its building division. The move came two weeks after the company announced a large provision for an embarrassing delay in the pounds 120m Millennium Stadium in Cardiff, writes Francesco Guerrera.

Stadium delays hammer Laing profits

JOHN LAING, the civil engineering group, yesterday revealed that this year's profits will be hit by a pounds 26m provision after cost overruns on several contracts, including the pounds 120m project to build the Millennium Stadium in Cardiff for the Welsh Rugby Union.

McAlpine weighs share buyback

ALFRED MCALPINE, the construction group, is considering a share buyback and bolt-on acquisitions following yesterday's sale of two US businesses to rival Hanson for $122.5m (pounds 73m).

Wimpey attacks planning logjam

GEORGE WIMPEY, Britain's biggest housebuilder, yesterday accused the government of pushing up land prices by failing to address the country's planning logjam.

Jobs will go in Tarmac shake-up

TARMAC yesterday became the latest UK company to announce job cuts as a result of deteriorating markets.

Battle for the right to build

News analysis: Clumsy and tortuous local planning laws may cause a housing shortage, claim angry builders

Investment: Hays shrugs off the threat of recession

BRITAIN MAY be in danger of talking itself into recession, but speak to Sir Ronnie Frost, chief executive of Hays, the logistics and commercial services group, and a far more optimistic view emerges. His view is that there is no danger of recession and that Hays' figures do not even hint at a slowdown.

Fast Track: A-Z of Employers

Age: 150.

Investment: Amec services boost shares

FOR AN illustration of how the British economy is changing, look no further than Amec. The construction group has long got its hands dirty with large civil engineering projects and housebuilding. But recently it has been building up its exposure to services.

Builder aiming to keep profit level

SHARES IN house builder Wilson Bowden rose 19p to 512.5p as it reported a 23 per cent rise in first half pre-tax profits to pounds 35.8m. Wilson said the holiday period was better than last year and that house reservations were up 8 per cent: it expected full-year 1998 pre-tax profits should at least match last year's result.

pounds 15m profit from housebuilder sale

TONY K PIDGLEY (left) is set to pocket pounds 15m from the sale of his company to Berkeley group, the housebuilder founded and headed by his father, Tony W Pidgley. The 29-year-old entrepreneur yesterday announced the sale of his luxury housebuilder Thirlstone to Berkeley for pounds 4m in cash and pounds 11m in Berkeley shares.
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