Financial & Legal
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VolkerWessels UK increased profit while keeping annual revenue broadly flat. Pre-tax profit reached £70.5m as tighter project selection helped lift the operating margin from 3% to 4.4%.
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A TCC ruling has tightened requirements for construction payment applications. The judgment found that missing contractual information prevented one application from operating as a valid default payment notice.
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London Square has reported deeper losses amid building-safety approval delays. The developer recorded a £12.7m pre-tax loss as longer regulatory programmes continued to affect project starts, cash flow, and completions.
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Government is examining digital records for products used in construction. The consultation covers traceability, compliance data, sustainability information, business costs, and alignment with forthcoming European requirements.
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UK construction output is forecast to contract sharply throughout 2026. Housing, renovation, finance, and material costs are weakening activity, while infrastructure remains the principal area of growth.
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Volvo CE increased volumes, orders, service sales, and quarterly margins. Reported revenue fell after the SDLG divestment, while organic sales advanced across the continuing operation.
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European recyclers want stricter targets for inert construction waste recovery. Their proposals include public procurement requirements, national strategies, electronic registries, and stronger quality standards.
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Arcadis is now reviewing WSP Global’s revised takeover proposal terms. The Dutch consultancy rejected an earlier approach and says no agreement or decision has been reached.
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Artificial intelligence now operates across most surveyed architecture practices nationwide. Productivity and investment returns are improving, while design quality, accountability, training, intellectual property, and employment remain unsettled.
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HMRC has filed petitions against several Avison Young UK companies. The consultancy attributes the action to a historical tax obligation and says discussions with the authority are continuing.