However in 2014, contractors saw construction demand pick up and remain strong throughout the year, with positive growth rates for new work recorded in each successive month. Total non-domestic construction output in 2014 is estimated to have reached around £79.1bn, an increase of around 5% on the previous year.
However, with an upturn in the market, there is now a shortage of skilled trades working in the sector, such as carpentry, joinery, glazing and building services.
Market consolidation has now led to a shortage of smaller, specialist firms, with a number of companies entering receivership during the recession.
Despite seeing an overall increase in average operating profit margins during 2014, pressure on contractors still remains, as workloads have grown and contractor margins remain under pressure.
– BAM Construct UK
– Balfour Beatty
– Bowmer & Kirkland
– Galliford Try
– Laing O’Rourke
– Lend Lease
– Morgan Sindall
– Sisk UK
– Willmott Dixon
For more information visit http://www.researchandmarkets.com/research/gsfhxt/construction
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