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Reduced momentum for construction but new opportunities continuing to emerge

08 September 2020

Contracts worth more than £2.6bn were awarded to the top 50 UK construction companies in August, the latest figures show.

Although lower than the July figure of £3.9bn, the latest survey shows that the sector is continuing to enjoy new opportunities, according to industry analyst Barbour ABI.

Kier Construction was shown to be the busiest of the top 50 contractors, after winning a total of 14 contracts in August worth £108m in total.

The most successful company over the last 12 months is BAM Construction, which has recorded a total of 51 project wins with a total value of £1.9bn.

Barbour ABI and AMA Research chief economist Tom Hall said the reduction in contract value in August “fits with our expectation of subdued activity due to the uncertainty caused by the possibilities of subsequent outbreaks of Covid-19, a disruptive Brexit and a wider economic slowdown.

“However, the construction market is retaining some momentum after the slump during lockdown, and there are new projects coming through, although at lower levels compared to before Coronavirus.”

Those wishing to view the full report for August can do so here.

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