Contract awards climb by 11% in February

Grant Prior 2 years ago
Share

Contract awards in February increased by 11% compared to January to £4.7bn.

This remains below average levels, but underlying activity has increased as no single project was valued over £200 million.

Similarly to January, distribution centres make up two of the top four contract awards.

The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlights levels  of construction contract values awarded across Great Britain.

Sector analysis shows that residential strengthened in February to £1.9 billion with strong activity in the West  Midlands. Infrastructure also picked up, rising £78% to £900 million following a disappointing January.

The largest  infrastructure projects are the National Grid LNG terminal expansion in Kent and the M25 Junction 28 improvements  in Essex.

The industrial sector, led by warehousing, continued as the hottest sector, with two of the top four projects being  distribution centres: a distribution hub in Wakefield worth £186 million and a Lidl distribution centre in Bedfordshire  with a value of £100 million.

Commenting on the figures, Tom Hall, Chief Economist at Barbour ABI and AMA Research said: “There was not a huge  amount to see in February as planning activity was maintained; no pre-budget optimism to be seen.

“Contract awards  strengthened slightly while planning applications and approvals weakened. Approvals particularly are looking fragile.  Elsewhere the significant activity in warehousing and distribution continued, and infrastructure contract awards  returned to previous levels after a weak January.”

Download the full report here.

Latest news

Self-employed labour rates hit record high

Average weekly pay tops £1,000 in London, the South East and East of England.
2 days ago

Network Rail chief takes finance reins at Skanska

Meliha Duymaz is new Chief Financial Officer
2 days ago

Construction Manager of the Year crowned

Kier's Joe O’Connell lands top prize. Full list of winners
3 days ago

Hochtief starts pulling down Welsh pylons

Construction starts on National Grid project
2 days ago

Kier wins London life sciences job

Contractor lands innovative landmark lab development at ARC West London
2 days ago

Social housing bidding opens for £1.5bn energy retrofit cash

First upgrades of social housing stock could start from early next year
3 days ago

Construction arm propels Mace to record profit

Revenue expected to top £2bn this year despite project delays
4 days ago

Fire destroys conveyor belt at Silvertown Tunnel site

Forty firefighters battle blaze at huge London site
3 days ago

Plan for £58m Bristol pharma R&D facility approved

Willmott Dixon in line to build the R&D facility at Bristol & Bath Science Park
3 days ago

Bond Street Elizabeth line station to open next month

Final station on delayed line will welcome passengers in October
3 days ago

Sisk fixes price on £227m Quintain flats job

Quintain signs single-largest contract so far at Wembley Park
4 days ago

Green light for St Helens town centre revamp

English Cities Fund to start phase 1 next April
3 days ago

Rising costs tip William Hare to £3.6m loss

Specialist contractor falls into the red despite near 60% revenue rise to £220m
5 days ago

Safety blitz on “aches, pains and strains” on site

1,000 site visits planned in coming months to check how workers are moving heavy or bulky materials
5 days ago

Drones sent flying underground to check sewers

Traditional inspection teams replaced with latest technology
4 days ago

Plan submitted for 470 Preston flats scheme

Stoneygate Central scheme on Dryden Mill site will rise to 16 storeys
4 days ago

Graham starts £124m M25 Junction 28

Work on the 36-month Junction 28 upgrade includes constructing a major two-lane loop road
4 days ago

Keltbray bags brace of energy infrastructure wins

Civils work on huge converter stations worth £30m to specialist
5 days ago

Balfour Beatty sole winner for £4bn Scape civils deals

Contractor reappointed to England, Wales and Northern Ireland and separate Scottish deals
5 days ago

PR expert Baroness Rock to chair Costain

Kate Rock will take up senior board role at the end of the year
5 days ago

Billington profit upgrade after strong first-half

Steelwork contractor says weaker pound will allow it to reignite its old export markets in Europe
5 days ago

Green light for £120m Liverpool “super restaurant”

Historic Pumphouse at Stanley Dock to be transformed
6 days ago

Tolent bags £15m Sunderland skills academy

Work to start later this year on Housing Innovation and Construction Skills Academy
5 days ago

Government launches net zero review

Pro-growth and pro-business review of net zero 2050 target launches
6 days ago

L&G Modular wins 400-home Wolverhampton job

Modular specialist wins 17-acre Canalside South regeneration scheme
6 days ago

£1.2bn A12 upgrade accepted for planning

15-mile Essex road upgrade between Chelmsford and Colchester aims for 2023/24 start
6 days ago

US consultant trumps WSP bid for RPS Group

Tetra Tech swoops but WSP could come back with new offer if bidding war breaks out
6 days ago

Sisk hands staff £900 cost of living cash boost

Firm also promises staff £400 Christmas voucher in November
6 days ago

Loathed IR35 reforms scrapped by Chancellor

Contractors will no longer have to determine tax status of freelance workers
1 week ago

Higgins signs deal for 740 West London homes

Work to start this autumn on two Hayes housing estate rebuilds
6 days ago

Contractor services