Confidence returns to UK construction

Confidence returns to UK construction

Staff recruitment difficulties will be a major stumbling block for construction companies trying to expand to meet rising demand now that economic recovery is under way, warns KPMG in its latest Global Construction Survey.

 

KPMG found that all the companies surveyed in the UK planned to expand into the power and energy market, with 83% targeting railways, 33% industrial and 17% water. Most were also planning to expand into other regions. Companies in the Americas and Asia Pacific were even more optimistic, with 91% and 65% respectively having a positive or very positive medium term outlook.

 

KPMG said companies need to invest in growth now and market success will be won by those who have the resources to compete, including sufficient experienced staff.

 

Most UK companies see government infrastructure plans, global economic growth and urbanisation as key drivers of growth, with 73% either positive or very positive about prospects. Increased order books, growing order books and profit margins were also reported by most.

 

Launching the survey – Global Construction Survey 2013:Ready for the Next Big Wave – KPMG Power & Utilities Chairman Alastair Buchanan said:"Transmission network and gas distribution companies are expected to attract inward investment totalling £40Bn.

 

“The sector has already signalled around 5,000 jobs to be created, and the new GB pricing model awards, for the first time in 20 years, monies for research and development called innovation funding.”

 

This is just the start, Mr Buchanan said, with another £30Bn on electricity distribution in 2015, the roll out of round two offshore just starting, and £110Bn needed to expand power generation capability.

 

(Photo: Fin Fahey)

Please rate

Comments 

Ctrl + Enter

Most Read

IR35 coming to the private sector in 2020

IR35 coming to the private sector in 2020

Due to changes introduced in the Autumn Budget, from autumn 2020, off-payroll working rules which have only been applicable to the public sector will be also implemented in the private sector as well. What this means, is that the end client (hiring manager) of a worker will now be in the position

Engineering in the UK: Outlook for 2019

Engineering in the UK: Outlook for 2019

Between 2015 till date, engineering has grown exponentially in the United Kingdom (UK) and Europe as a whole. This growth in the range of a 6% rise in number of UK engineering enterprises within the past couple of years has gone on to prove just how relevant to the economy engineers and the science

Ten highest paying I.T jobs in 2019

Ten highest paying I.T jobs in 2019

The I.T industry is arguably the most in-demand industry for technology/Engineering professionals. Once you have the right skill and certification, the I.T industry will jump at the chance to employ you and grant you a befitting role. From application developers to Data Engineers, the sector is in

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.