THE TOP 50 CONSTRUCTION businesses who most benefited from new contract awards in February have been revealed in research by Barbour ABI.
JRL Group took the top spot this month largely thanks to its award to build Consort Place on the Isle of Dogs valued at £470 million. The large mixed development will provide a full community lifestyle including apartments, a hotel, school, health centre and retail outlets.
The second largest contract award for February was the £344 million extension to the Metro from Wednesbury and Brierley Hill in the West Midlands. Midland Metro Alliance will deliver 17 additional stops by January 2023.
According to the research the combined value of contracts awarded to the Top 50 in February was just over £3.5 billion with a total of 123 projects.
Most contract awarded
Kier Construction was the busiest contractor for February 2020 with a total of 13 projects with a combined value of £209 million. Kier currently sit in fifth place overall in the 12-month rolling league table with a total of 134 projects valued at just over £1.4 billion.
Morgan Sindall received 12 new contracts worth a total of £91m, while ISG, John Graham Construction and Willmott Dixon all received six new contracts each, worth a total of £77m, £72m and £24m respectively.
Tom Hall, Chief Economist at Barbour ABI & AMA Research said, “After a flood of infrastructure project awards in January, February saw a significant reduction in the sector. This resulted in the overall value and number of contract awards for the construction industry down month on month.
“In next week’s budget hopes are high that the new chancellor will significantly increase government investment, boosting the medium-term prospects of the infrastructure and the public sectors.
“However, the emerging situation relating to the coronavirus is likely to significantly impair the UK economy and the construction industry in the short term.”
|The full report can be downloaded here|