NEWSBRIEF

Morrison to keep sterling mills

Morrison Construction plans to retain ownership of its £8 million development at Sterling Mills, Stirling, after completion, rather than sell the project. Morrison puts the value of the completed scheme at £25 million.

Irish builder CRHpoised to buy

CRH, the Irish building materials group, said it could spend up to £420 million on acquisitions in the UK and Continental Europe, to cash in on falling asset values. Interim results, announced last week, showed a 30 per cent rise in pre-tax profits to £100 million on a turnover of £2.2 billion.

Graham group targets small builders

Graham Group, the builders' merchant, has reported a 40 per cent climb in pre-tax profits to £12 million in the six months to June. Sales were 3 per cent stronger at £270 million. Graham wants to increase sales to small jobbing builders where there are margins of 20 per cent.

David Williams on the board at Warings

David Williams has joined the board of Warings Construction Group as non-executive chairman. Williams was group construction director for BAA from 1976.

Faber to host NEW DETR prOgrAMME

Oscar Faber is to be a host company in the DETR's "Construction Best Practice Programme". Ken Dalton, chief executive, said: "The visits programme will help us in examining innovation, leadership, team building, partnering and whole-life construction."

Operating margin up for wilson connolly

Turnover of £150 million in the first half of 1998 produced a pre-tax profit of £14 million for housebuilder Wilson Connolly. The operating margin was up from 8.6 to 10.5 per cent.

HBGpre-tax profits rise

HBG, the Dutch-based construction group, made a pre-tax profit of £25 million (£21 million) in the first half of 1998 on a steady turnover of £1.5 billion.