Modular specialist Reds10 has increased profit and revenue for the fourth year in a row after landing a spate of government contracts. The London-based firm’s turnover soared by 70 per cent from £83.8m to £142.5m in the year ending 31 March 2024, while pre-tax profit jumped from £5.6m to £7m.…
Offsite & MMC
TopHat to wind down modular operations
Modular builder TopHat is to lay off staff and wind down its modular housing operations, it has announced. The latest blow to the modular housing sector comes a month after Construction News reported that the firm had seen off a winding-up petition lodged by one of its creditors. Top Hat,…
L&G Modular trims losses as it prepares to close in 2025
Legal & General trimmed its losses as it prepares to wind down its modular business in 2025, its latest annual accounts show. L&G Modular reported a pre-tax loss of £61.1m for the year to 31 December 2023, which it blamed on “balance sheet impairments [from 2022] following the decision to…
NHS hunts firms for £2.6bn offsite framework
The NHS has started searching for new suppliers to join a £2.6bn modular building framework. Set to run for four years, the framework replaces a previous £1.6bn version, which initially saw 29 companies appointed. Work delivered under the agreement, set by NHS Shared Business Services (NHS SBS), includes providing offsite-built…
New skills body eyes ‘considerable expansion’ of MMC
Skills England has said the use of modern methods of construction (MMC) could be “expanded considerably” to help tackle labour shortages. The government’s new quango, set up to bring together different parts of the “fractured” skills system, released a report this week that highlights challenges for construction, including delivering 1.5…
Wates and Hill nab spots on £800m MMC framework
Wates and Hill Holdings are among 22 firms that have taken spots on a four-year housing framework focusing on modern methods of construction (MMC). The Integrated Traditional Build & MMC framework will cover 37 different regions of England and Wales for a range of projects, including low and medium rise…
Half-built Ilke houses to be demolished
Tens of homes left half-finished by collapsed modular housebuilder Ilke Homes are to be part-demolished before construction can restart. Work at the Meadow Grange development in Southend-on-Sea, Essex, stopped last June after the housebuilder collapsed into administration. More than a year later, a replacement contractor has not yet been appointed.…
Calls for research centre to stop certifying MMC post-Grenfell
Peers have called for the Building Research Establishment (BRE) to be stripped of responsibility for certifying modern methods of construction (MMC), following criticism in the Grenfell Inquiry’s final report. A House of Lords debate on MMC yesterday (5 September) also heard calls from across the political spectrum for the BRE…
Britain’s constructors could once again lead the world
Sam Stacey is the former director of the Transforming Construction Challenge For four years from 2018, I led the transforming construction challenge (TCC) – a UK Research & Innovation-backed initiative that was match funded by industry to encourage the shift towards manufacturing and digital processes. It set out to champion…