Van Elle profit warning as Building Safety Act ‘delays’ new construction work getting underway
Current projects include HS2, Hinkley Point C, and the Lower Thames Crossing, which is expected to begin construction in 2027.
Current projects include HS2, Hinkley Point C, and the Lower Thames Crossing, which is expected to begin construction in 2027.
“Strategic procurement, proactive risk management, and adaptability will be key to capitalising on emerging opportunities,” report finds.
The ground engineering contractor expects four per cent lower group revenue than previous year, with contract start dates pushed back to 2026.
Performance of its UK operations is likely to be impacted in 2025 after more than 40 projects could potentially be pushed back to next year.
The Liverpool-headquartered business posted a loss for the year of £5.7 million, compared to a £3.4 million loss recorded the year prior.
“Workload has been subdued in Rail, as the sector transitions from CP6 into CP7, and Highways continues to experience project delays.”
If the Building Safety Regulator (BSR) doesn’t provide sign off, due to errors in the design, delays can occur due to re-work in order to re-submit.
Two firms have yet to sign the government contract that ensures fire safety for high-rise mixed-use buildings.
Developers have been given a six-week deadline to sign a government contract which commits them to repair unsafe buildings – or be frozen out of the market.
The new body will take over Gateway 2 and 3 applications, with HSE support until the end of 2026, as it aims to improve decision-making and oversight.