The Group said: "Current market conditions continue to be uncertain, however, early indicators suggest some restoration of confidence in the construction of new build commercial properties. Since many of the new build design and planning processes were completed prior to the current market turbulence, it is possible that formal construction activity on a number of commercial development schemes could begin as early as mid 2010."
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The Group's London operations continue to bid for a number of opportunities, including rail infrastructure projects, some of which are linked with the major London transport project Crossrail. Steady progress is being made on the Olympic Stadium, which is on schedule for completion in early 2011. Design activities have commenced on the Westfield Stratford City Shopping Centre, which is located close to the London Olympic site.
The Group has secured a good balance of new contracts with both private and public sector clients. These contracts include Ravensbourne College, Greenwich; ABN Amro, 250 Bishopsgate; Longbenton Campus, North Tyneside; Black Lion Sports Centre, Gillingham, Kent; Northern Ballet, Leeds; HMP Hull; New Business Enterprise Centre, Derby University; Cherrytree Nursing Home, Nottingham; Longannet Power Station, Firth of Forth, Scotland.
(CD/JM)
