Renew sells gas mains arm Forefront

Aaron Morby 9 months ago
Share

Engineering construction group Renew has sold its loss-making Forefront business, finally exiting gas utility infrastructure services.

Last year Renew said it would exit low pressure, small diameter gas pipe replacement activities in the hope that the £20m revenue remaining business, now focussed on medium pressure activities, would return to profitability.

But Forefront has continued to run up losses prompting to offload Forefront to £30m turnover Kent-based road surfacing and reinstatement contractor Ferns Group for a £1.

As a result of this disposal, Renew will make a non-cash write-down in the Group’s accounts. In the last financial year, Forefront made a pre-tax loss of £2.8m.

Latest news

London boroughs get £1bn council homes construction boost

Extra funding to kick-start work on 11,000 homes
4 hours ago

Stantec to sell loss-making water specialist MWH

UK operations will return to MWH Treatment trading name
1 day ago

Lithuanian facade giant wins luxury London package

Staticus lands latest deal at Royal Mint Gardens as it continues UK expansion plans
1 day ago

Edinburgh Uni submits plan for School of Engineering

Work to start on first of five buildings next year
10 hours ago

Galliford Try Partnerships MD joins Lovell as London boss

Stuart Gibbons returns to Lovell after building up GT's Partnership business
10 hours ago

Civils specialist Nexus sees orders surge 45% to £290m

Orders swell at Tamdown and TriConnex
9 hours ago

Work set to start on £100m Harlow warehouse complex

Readie Construction wins first phase of 500,000+ sq ft scheme
10 hours ago

Atkins wins Wylfa nuclear power station civils design

Hitachi strengthens design team for £14bn project
1 day ago

Boost your online presence – join the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
6 months ago

Sisk edges into UK profit after two years of losses

UK revenue drops by over half to £188m from 2015 peak
1 day ago

Hill bags £300m Aldershot and Farnborough town centre revamps

Four major schemes will deliver 750 new homes
1 day ago

Jacobs to sell energy and chemicals arm for £2.5bn

US consulting giant continues business shake up
1 day ago

Bid race for £25m Poynton Relief Road

Cheshire East Council calls up firms for 3km relief road project
1 day ago

Morgan Sindall appeals to construction career breakers

Contractor offers return to people who have taken time out from the industry
1 day ago

Huge fit-out team starts work on £333m Aberdeen centre

More than 850 people working on interior of event complex
1 day ago

Cemex trucks become mobile safety warnings

Vehicles carry campaign message aimed at pedestrians
1 day ago

Bouygues profit warning over biomass plant problems

Two UK power jobs drag down results at group construction division
4 days ago

Site virtual reality swings London skyscraper planning appeal

48-storey Isle of Dogs tower secures planning at appeal
4 days ago

Gatwick Airport sets out £500m runway upgrade plan

Standby runway to be moved 12m to bring into routine short-haul service
4 days ago

Engie wins £195m Kingston Uni student halls revamp

Work to start on student accommodation upgrade next June
4 days ago

First iKozie micro-home community gets thumbs up

Sixteen micro-flats to be built in Worcester
4 days ago

Plans for £450m Leeds hospital expansion

A new children's hospital and day patient block will be built at Leeds General Infirmary
5 days ago

Tool theft hits half of construction companies

Project delays and cost overruns caused by crime wave
5 days ago

Betting Spy: Chelsea and Fulham to land double

West Londoners can both come good this weekend at 3/1
5 days ago

RG Group starts tallest building in Yorkshire

Landmark student skyscraper will rise to 37 storeys
6 days ago

Government calls for fire tests on high-rise spandrel panels

Spandrel panels now under the spotlight as fire spread risk in tall buildings
5 days ago

Surveyors report rising workloads but Brexit fears loom large

Workloads up in Q3 but credit squeeze is becoming a major issue
5 days ago

Voice controlled windows tint on command

Latest tech means you can talk to your windows
6 days ago

Suffolk council to renew £750m East of England framework

PQQs published next month for revamped public building framework
5 days ago

Police swoop on Romanian site slave labour gang

Eight arrests in east London as police target construction human trafficking
6 days ago

Contractor services