More than 10% of leading civils contractors 'in danger'

More than 10% of the UK's leading 1,000 civil engineering contractors are in financial danger, a report has warned.

Market analysts Plimsoll said it has identified 117 firms in a study of the UK Civil Engineering Contractors market which fall into the category.

Of those, 66 raised their debt levels last year and are now carrying almost twice the level of debt recommended.

In addition 78 saw their profits dip, while 58 are losing money.

But the report also highlighted that nearly 600 companies in the survey are largely debt free and therefore able to compete on price while holding their margins.