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NEWSBRIEF
00:00 11 Nov 1998
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HARD CASH FOR LANDFILL RESEARCH
RMC is to give £1.6 million to the Environment Council under landfill tax rules which allow waste management groups to give grants and reclaim 90 per cent of their donations. The money is intended to stimulate innovation and help firms develop new methods for reducing and tackling landfill waste.
PROWTING'S PROFITS SOAR TO £8.7M
Housebuilder Prowting has announced a pre-tax profit of £8.7 million in the six months ending 31 August 1998. The comparable figure last year was £6.8 million (£7.5 million before exceptional items). Prowting's operating margin was little changed at 11.4 per cent.
NEW CHIeF EXECUTIVE FOR CONNECT ROADS
Neil Thomas is the new chief executive of Connect Roads, succeeding Haro Bedelian. Connect is a consortium between Balfour Beatty, Philipp Holzmann and WS Atkins. It has two 30-year DBFO (design, build, finance and operate) road contracts, the A50 Stoke/Derby and the A30/A35 Exeter/Honiton schemes.
McALPINE BUYS back £7.9m of SHARES
Alfred McAlpine has bought back 4.6 per cent of its shares at a total cost of £7.9 million. Jeffrey Hume, finance director, said McAlpine has authority to buy back a total of 10 per cent of its shares. "We are judging it day by day," he said. "Sellers have not been fast at coming forward which must mean they are more optimistic for the future than one might have expected. Our offer is still open."
MORE money FOR HOUSING MAINTENANCE
Housing minister Hilary Armstrong has announced that maintenance allowances for repairing council houses in England will increase by £52 million next year. The extra money is part of the Government's £3.6 billion capital investment plan to improve local authority housing stock.
RECLAMATION contractor changes hands
Reclamation contractor Webfell has changed ownership through a £9 million buy-in. The buy-in of the £20 million turnover Normanton, West Yorkshire firm was led by John Waterhouse and Richard Lochman who become managing director and finance director respectively.
ON THE MOVE around the boardrooms
Contractor Allenbuild, part of the Allen Group, has appointed Steve Hindley to be design and build manager of its Manchester office. Tarmac-subsidiary Expanded Piling has announced that Stan Mimms will become precast piling manager based at the firm's head office in Grimsby. Cladding specialist Haye Hinchliffe Systems has a new architectural design manager, Alan Yates.
HOUSebuilding SLOWING DOWN
Housebuilding starts were down 4 per cent in the third quarter of 1998 compared with the same period last year, according to the latest figures from the Department of the Environment, Transport and the Regions. During the latest three months, 44,900 dwellings were started and 42,100 houses were completed - also 4 per cent down when compared with the third quarter of 1997.
RICHARD SAXON correction
In the 28 October Analysis report, page 16-17, a typographical error occurred in a quote attributed to BDP chairman Richard Saxon. It should have read: "Adding maximum value to clients does however require a single team right through from when the need for a project is identified."
RMC is to give £1.6 million to the Environment Council under landfill tax rules which allow waste management groups to give grants and reclaim 90 per cent of their donations. The money is intended to stimulate innovation and help firms develop new methods for reducing and tackling landfill waste.
PROWTING'S PROFITS SOAR TO £8.7M
Housebuilder Prowting has announced a pre-tax profit of £8.7 million in the six months ending 31 August 1998. The comparable figure last year was £6.8 million (£7.5 million before exceptional items). Prowting's operating margin was little changed at 11.4 per cent.
NEW CHIeF EXECUTIVE FOR CONNECT ROADS
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Neil Thomas is the new chief executive of Connect Roads, succeeding Haro Bedelian. Connect is a consortium between Balfour Beatty, Philipp Holzmann and WS Atkins. It has two 30-year DBFO (design, build, finance and operate) road contracts, the A50 Stoke/Derby and the A30/A35 Exeter/Honiton schemes.
McALPINE BUYS back £7.9m of SHARES
Alfred McAlpine has bought back 4.6 per cent of its shares at a total cost of £7.9 million. Jeffrey Hume, finance director, said McAlpine has authority to buy back a total of 10 per cent of its shares. "We are judging it day by day," he said. "Sellers have not been fast at coming forward which must mean they are more optimistic for the future than one might have expected. Our offer is still open."
MORE money FOR HOUSING MAINTENANCE
Housing minister Hilary Armstrong has announced that maintenance allowances for repairing council houses in England will increase by £52 million next year. The extra money is part of the Government's £3.6 billion capital investment plan to improve local authority housing stock.
RECLAMATION contractor changes hands
Reclamation contractor Webfell has changed ownership through a £9 million buy-in. The buy-in of the £20 million turnover Normanton, West Yorkshire firm was led by John Waterhouse and Richard Lochman who become managing director and finance director respectively.
ON THE MOVE around the boardrooms
Contractor Allenbuild, part of the Allen Group, has appointed Steve Hindley to be design and build manager of its Manchester office. Tarmac-subsidiary Expanded Piling has announced that Stan Mimms will become precast piling manager based at the firm's head office in Grimsby. Cladding specialist Haye Hinchliffe Systems has a new architectural design manager, Alan Yates.
HOUSebuilding SLOWING DOWN
Housebuilding starts were down 4 per cent in the third quarter of 1998 compared with the same period last year, according to the latest figures from the Department of the Environment, Transport and the Regions. During the latest three months, 44,900 dwellings were started and 42,100 houses were completed - also 4 per cent down when compared with the third quarter of 1997.
RICHARD SAXON correction
In the 28 October Analysis report, page 16-17, a typographical error occurred in a quote attributed to BDP chairman Richard Saxon. It should have read: "Adding maximum value to clients does however require a single team right through from when the need for a project is identified."
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