Technology

Tide Construction has reported a fall in pre-tax profit despite an 11 per cent jump in revenue.  The London-based company, which specialises in building high-density residential schemes using modular methods, has reported a pre-tax profit of £7.1m for the year ending 31 August 2023 - down from £11.1m a year…

Failed industry disruptor Urban Splash House is to go into liquidation, more than two years after collapsing into administration. The move marks the final step in the winding-up of the modular-build specialist, and could bring certain suppliers closer to receiving some of the cash they are owed. Spun out of…

Digital sign-ins for workers have been blamed for a doubling in cyber attacks on construction companies over the past year, according to a report. Financial advisory specialist Kroll said the sector accounted for 6 per cent of its incident responses in the first quarter of this year. That was double…

TopHat managing director Andrew Shepherd is to leave the troubled modular housebuilder, it has emerged. The former Laing O’Rourke chief posted on professional networking site LinkedIn that he would be “moving on to a new challenge”. TopHat announced in February that it was consulting on up to 70 job cuts,…

UK taxpayers have lost £2.6m due to the collapse of modern methods of construction (MMC) specialist Modulous, which has now gone into liquidation. The startup, which was formed in 2018, filed a notice of intention to appoint administrators in January, having laid off its staff at the beginning of December.…

Kier has announced that it will help develop small modular reactors (SMR) with US firm X-Energy. The contractor has signed a memorandum of understanding with X-Energy and Babcock subsidiary Cavendish Nuclear to collaborate on the new technology. The firms will have access to £3.34m from the UK Government Future Nuclear…

Modular housebuilder TopHat has halted work on its 60,000 square metre manufacturing site in the South Midlands due to “market conditions”. The firm had initially said the Corby factory would be operational last year but its latest announcement leaves uncertainty as to when the long-promised facility will finally be ready.…

Government infrastructure chiefs have announced plans to increase the use of artificial intelligence (AI) in project management – with checks in place to stop computers making decisions that should be taken by humans. The Infrastructure and Projects Authority (IPA) this week launched a new framework to guide collaboration between departments…

Northumberland-based offsite specialist Merit Holdings Ltd has reported strong turnover and pre-tax profit growth in its latest annual accounts. Revenue reached £94.3m for the year ending 30 June 2023, marking a 48 per cent year-on-year increase compared with the 2021/22 total of £63.7m. Turnover in 2020/21 was £41.8m. In his…

A National Housing Federation-backed alliance of housing associations and councils is looking for dozens of traditional-build main contractors to join a new modern methods of construction (MMC) framework. Building Better, which was set up to increase the use of MMC in social housing, is looking for SME builders to lead…