Construction and engineering firm Costain saw its shares plummet after it reported a nearly 20% drop in revenue for the first half of the year.
The company explicitly linked the disappointing performance to ongoing delays and uncertainties surrounding the UK's high-speed rail project, HS2.
Despite the revenue slump, Costain did announce a dividend increase, which was not enough to reassure investors.
The news underscores the financial risks for companies heavily involved in large-scale government projects that are subject to political and logistical delays.
For Costain, HS2 was a cornerstone of its forward-looking business strategy, and the project's setbacks have had a direct and significant impact on its financial health.
The share price tanking reflects a loss of investor confidence in the company's ability to generate reliable income from its major contracts.
The situation at Costain highlights the broader challenges facing the UK's infrastructure sector, where major projects are often plagued by budget overruns and delays, creating a ripple effect that impacts contractors and their shareholders.
Timber and materials distributor James Latham has reported a rise in revenue, citing strong demand for timber products.
Shares in construction firm Costain plummeted after the company reported a significant drop in first-half revenue.
The UK's water regulator, Ofwat, has come under fire for its 'chaotic' and 'unfit' approach to managing the country's water and sewage companies.
Construction giant Balfour Beatty has reported a lift in profits and is optimistic about a boost from its UK construction projects.
Construction and infrastructure giant Balfour Beatty has reported a lift in its profits, citing a strong performance from its UK-based construction and infrastructure projects.
Homebuilder Bellway has announced it is acquiring more land for future developments but has issued a warning about significant delays in securing planning permission from local councils.
Homebuilder Bellway has announced it is acquiring more land for future developments but has issued a warning about significant delays in securing planning permission from local councils.
The head of National Grid has stated that a recent power outage at Heathrow Airport was not a 'systemic' network issue.
The London Stock Exchange has welcomed Associated British Ports, the UK's largest port operator, to the market following a successful £300 million bond offering.
Monthly GDP rose 0.4% in June, with services, manufacturing and construction all contributing.
The UK's construction sector experienced its sharpest decline in activity in July since the beginning of the COVID-19 pandemic, according to new data.
Londoners are purchasing the lowest proportion of houses outside the capital in over a decade due to stalling local prices and the shift back to office working.
FTSE 100 property developer Berkeley Group has warned of a housing slowdown in London, forecasting further decline unless the government addresses regulatory and tax hurdles.
Amazon offers 45% discount on L'Oreal Paris Laser Renew Anti-Ageing Triple Action Eye Cream.
UK borrowing costs for 30-year debt reached 5.72%, a 27-year high, raising fears of economic decline.
Poundland plans to close up to 68 stores in 2025 following financial difficulties and restructuring.
Chancellor Rachel Reeves announced the autumn budget for November 26, aiming to address a £30 billion deficit with growth measures.
Financial expert Martin Lewis has issued a strong warning against criminals who use his name and deepfake technology in 'disgraceful' online adverts to scam vulnerable people, after a woman's husband lost thousands of pounds.
The Powerball jackpot has soared to an estimated $1.3 billion, the fifth-largest in the lottery's history, after no winning ticket was sold in the latest drawing, marking the 41st consecutive drawing without a winner.
The UK's long-term borrowing costs have reached a 27-year high, fueling speculation about the government's economic credibility and the future of Chancellor Rachel Reeves following a significant government reshuffle.
Experts caution that Premium Bonds winnings may lead to unexpected tax bills depending on how they’re used.
McVitie’s introduces a new caramel-flavoured Penguin biscuit available in major UK supermarkets just in time for autumn.
Despite a wider trend of decreasing car insurance premiums in the UK, a new report indicates that prices for drivers under the age of 25 have seen a recent increase.
A major government reshuffle has fueled speculation about the future of Chancellor Rachel Reeves as the UK's long-term borrowing costs reach a 27-year high amidst broader European economic uncertainty.
The Powerball jackpot has skyrocketed to an estimated $1.3 billion after no one won the top prize in the latest drawing, marking the 41st consecutive drawing without a winner and setting up the fifth-largest jackpot in the lottery's history.
Greggs has introduced a £5 meal deal nationally along with new autumn-inspired menu items including Chicken Fajita Bake and Pumpkin Spice specials.
Financial expert Martin Lewis has issued a powerful warning against online criminals who use his name and deepfake technology in 'disgraceful' adverts to scam vulnerable people, after a woman's husband lost thousands of pounds.
New data reveals councils increasingly use one-off cash incentives to persuade private landlords to accept homeless households, costing taxpayers millions.
Councils are spending millions placing homeless families in hotels due to housing shortages, raising questions about long-term policy failures.
Clase Azul is a premium Reposado Tequila that is as famous for its elegant, hand-painted ceramic decanters as it is for its contents.
