Table of Contents
1. EXECUTIVE SUMMARY 1
2. INTRODUCTION 4
2.1 Definitions 5
2.2 Methodology 6
2.3 Abbreviations 6
2.4 Economic Overview 7
2.5 Market Positioning 12
2.5.1 Health 12
2.5.2 Education 13
2.5.3 Housing 14
2.5.4 Other 14
2.6 Developments 16
2.6.1 Customers 19
2.6.2 Suppliers 19
2.7 Market Factors 19
2.7.1 Social Factors 20
2.7.2 Economic Factors 21
2.7.3 Political Factors 24
2.7.4 Private Finance 25
2.7.4.1 Refinancing 26
3. MARKET SIZE AND TRENDS 27
3.1 Chapter Summary 28
3.2 Market Size 28
3.3 Market Segmentation 31
3.4 Market Trends 36
3.4.1 Public Sector Activity 36
3.4.2 Increased Competition 45
3.4.3 Broadening of Market Sectors 47
3.5 Seasonality of Sales 47
3.6 Regional Sales 51
4. INDUSTRY STRUCTURE 56
4.1 Chapter Summary 57
4.2 Industry Overview 57
4.2.1 Industry Rivalry 63
4.2.2 Threat of Entry 64
4.2.3 Threat of Substitutes 64
4.2.4 Recent Events 64
4.3 Company Profiles 66
4.3.1 Alfred McAlpine 66
4.3.2 AMEC 69
4.3.3 Balfour Beatty Group 72
4.3.4 Birse Construction 77
4.3.5 Bovis Lend Lease 78
4.3.6 Carillion Construction 80
4.3.7 Carillion JM 82
4.3.8 Costain Group 84
4.3.9 HBG Construction 86
4.3.10 Interserve 88
4.3.11 Jarvis 91
4.3.12 John Laing 94
4.3.13 Kier Group 97
4.3.14 Galliford Try Infrastructure (Formerly Morrison Construction) 99
4.3.15 Skanska UK 101
4.3.16 The Miller Group 104
5. FORECAST 107
5.1 Chapter Summary 108
5.2 Background 108
5.3 Market Size 122
5.4 Market Segmentation 125
5.5 Industry Structure 126
6. FURTHER SOURCES & CONTACTS 127
6.1 Trade Associations 128
6.2 Trade Magazines 129
6.3 Other Publications 131
6.4 Trade Exhibitions 131
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List of Tables
1: UK Population, by Age Group, 2010-2046 21
2: Public Sector Capital Expenditure, 2003/04-2007/08 29
3: Signed PFI Deals, 1997-2008 29
4: Payments Under PFI Contracts (Signed Deals), 2004-2008 30
5: Cumulative Total of PFI/PPP Deals, by Government Department, 1987-2008 32
6: Signed PFI/PPP Deals, by Government Department, 2004-2008 33
7: PFI/PPP Deals Signed, by Sector, 2008 34
8: Largest Capital Value of Signed Deals 35
9: Analysis of New Public Housing Construction Output in Great Britain, 2004-2008 38
10: Public Housing Starts and Completions in Great Britain, 2004-2008 38
11: Analysis of Public Sector Non-Residential Construction Output in Great Britain,
2004-2008 42
12: Analysis of Public Sector Non-Residential Construction in Great Britain, by Type,
2004-2008 43
13: Seasonality of Public Housing Output, 2004-2008 48
14: Seasonality of Public Non-residential Construction Output, 2004-2008 48
15: Seasonality of Civil Engineering, 2004-2008 48
16: Seasonality of Civil Engineering Output in the Electricity Sector, 2004-2008 49
17: Seasonality of Civil Engineering Output in the Gas, Communications and Air Sector,
2004-2008 49
18: Seasonality of Civil Engineering Output in the Harbours Sector, 2004-2008 50
19: Seasonality of Civil Engineering Output in the Roads Sector, 2004-2008 50
20: Seasonality of Civil Engineering Output in the Sewerage Sector, 2004-2008 51
21: Seasonality of Civil Engineering Output in the Water Sector, 2004-2008 51
22: Number and Value of Total PFI Projects Signed, 1987-2008 52
23: Regional Value of Total New Construction Output, 2004-2008 53
24: Regional Public Housing Construction Output, 2004-2008 53
25: Seasonality of Public Non-residential Construction Output, 2004-2008 54
26: Analysis of Civil Engineering Output By Area, 2004-2008 54
27: Development of the Construction Industry, by Number of Companies, 1997-2007 57
28: Development of Main Trades and Specialist Contractors, by Number of Companies,
1997-2007 58
29: Analysis of the Financial Structure of the Construction Industry, 2007 and 2008 58
30: Analysis of the Financial Structure of the General Construction of Buildings and Civil Engineering Works Industry, 2007 and 2008 59
31: Analysis of the Employment Structure of the Construction Industry, 2007 and 2008 60
32: Analysis of the Employment Structure of the General Construction of Buildings and
Civil Engineering Works Industry, 2007 and 2008 60
33: Financial Analysis of Carillion (AM), 2003-2007 68
34: Key Financial Ratios for Carillion (AM), 2003-2007 69
35: Financial Analysis of AMEC, 2003-2007 71
36: Key Financial Ratios for AMEC, 2003-2007 72
37: Financial Analysis of Balfour Beatty, 2003-2007 75
38: Financial Analysis of Balfour Beatty by Segment, 2007 76
39: Key Financial Ratios for Balfour Beatty, 2003-2007 76
40: Financial Analysis of Birse Group, 2003-2007 77
41: Financial Analysis of Birse Construction, 2003-2007 78
42: Key Financial Ratios for Birse Construction, 2003-2007 78
43: Financial Analysis of Bovis Lend Lease, 2004-2008 80
44: Key Financial Ratios for Bovis Lend Lease, 2004-2008 80
45: Financial Analysis of Carillion Construction, 2003-2007 81
46: Key Financial Ratios for Carillion Construction, 2003-2007 81
47: Financial Analysis of Carillion JM, 2002-2006 83
48: Key Financial Ratios for Carillion JM, 2002-2006 83
49: Financial Analysis of Costain Group, 2003-2007 86
50: Key Financial Ratios for Costain Group, 2003-2007 86
51: Financial Analysis of HBG Construction, 2002-2006 88
52: Key Financial Ratios for HBG Construction, 2002-2006 88
53: Financial Analysis of Interserve, 2003-2007 91
54: Key Financial Ratios for Interserve, 2003-2007 91
55: Financial Analysis of Jarvis, 2004-2008 93
56: Key Financial Ratios for Jarvis, 2004-2008 94
57: Financial Analysis of John Laing, 2003-2007 96
58: Key Financial Ratios for John Laing, 2003-2007 97
59: Financial Analysis of Kier Group, 2004-2008 99
60: Key Financial Ratios for Kier Group, 2004-2008 99
61: Financial Analysis of Galliford Try Infrastructure, 2003-2007 101
62: Key Financial Ratios for Galliford Try Infrastructure, 2003-2007 101
63: Financial Analysis of Skanska UK, 2003-2007 103
64: Key Financial Ratios for Skanska UK, 2003-2007 103
65: Financial Analysis of The Miller Group, 2002-2006 105
66: Key Financial Ratios for The Miller Group, 2002-2006 106
67: Forecast Civil Engineering Construction Output in Great Britain, 2009-2013 111
68: Forecast Construction Output in Great Britain, 2009-2013 112
69: Forecast Construction Output in Great Britain, 2009-2013 114
70: Forecast Public Housing Output in Great Britain, 2008-2012 117
71: Forecast Public Non-residential Construction Output in Great Britain, 2009-2013 120
72: Forecast of Public Non-residential Construction in Great Britain, by Type, 2009-2013 120
73: Forecast Repair & Maintenance Output in the Public Non-residential Sector in
Great Britain, 2009-2013 122
74: Forecast PFI Capital Expenditure, 2008/09-2012/13 122
75: Estimated Payment under PFI Contracts, based on Signed Deals as of May 2009 124
76: Forecast Capital Spending by the Private Sector, by Government Department,
2008/09-2012/13 125 |
