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New contract awards plummet 35% in January

2 Feb 16 There was a 35% year-on-year fall in the value of new construction contracts awarded in January 2016, according to data gathered by the Builders’ Conference.

The total value of new contracts signed in January 2016 was £3,856m, compared to £5,894.4m in January 2015.

However, Builders' Conference chief executive Neil Edwards said that the January 2015 figure was skewed by a one-off £1.5bn national infrastructure contract win for Balfour Beatty. Excluding that, 2016 started with even more promise than 2015, he said, with 755 new contract awards compared to 667 in January 2015.

More than 400 contractors contributed data to the Builders’ Conference contract intelligence gathering service last month.

Brookfield Multiplex topped its monthly BCLive monthly league table for January 2016, thanks to a single £450m contract to build the 64-storey Bishopsgate Tower in London for developer Lipton Rogers.

A haul of 15 new contracts with an aggregate value of £226m propelled Wates into second place for the monthly league. The largest of these – valued at £80m – was for the new build of 275 additional care units at Hall Road, Leeds Road and Hawthorne Avenue for Hull City Council.

Morgan Sindall was in third place, netting £172.1m from 19 contract awards.

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