{"id":5610,"date":"2025-05-27T07:46:31","date_gmt":"2025-05-27T07:46:31","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=5610"},"modified":"2025-05-27T07:46:31","modified_gmt":"2025-05-27T07:46:31","slug":"rydon-narrows-losses-as-27m-spent-on-fire-safety-repairs","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/rydon-narrows-losses-as-27m-spent-on-fire-safety-repairs\/","title":{"rendered":"Rydon narrows losses as \u00a327m spent on fire safety repairs"},"content":{"rendered":"

Rydon Group cut pre-tax losses to \u00a31m last year, down from \u00a39.1m, as it continued to tackle its building safety repairs backlog.<\/p>\n

The group invested \u00a327m during the year on remediation work required under the government\u2019s developer remediation contract and said 87% of its buildings have now been completed or were in the final stages of repair.<\/p>\n

Provisions for future liabilities, including potential post-Grenfell-related costs, were increased by \u00a313.4m to a total of \u00a319m after drawing down \u00a37.7m during the year.<\/p>\n

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Turnover jumped 28% to \u00a361m in the year to September 2024 as the business pivoted away from design and build housing to focus on its core maintenance operations.<\/p>\n

The maintenance division\u2019s forward order book dipped to \u00a3253m from \u00a3280m but remains underpinned by long-term PFI housing contracts. These allow for inflation-linked price increases, providing a buffer against rising material and labour costs.<\/p>\n

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Cash at bank more than halved to \u00a34.9m from \u00a311.5m, reflecting the scale of investment in fire safety works, while shareholder funds edged down to \u00a34.5m.<\/p>\n

Despite wider economic headwinds, the group said it continues to prioritise safety compliance and long-term value through selective work and sustained investment in its housing and healthcare.<\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/acR8TtO<\/p>\n","protected":false},"excerpt":{"rendered":"

Rydon Group cut pre-tax losses to \u00a31m last year, down from \u00a39.1m, as it continued to tackle its building safety repairs backlog. The group invested \u00a327m during the year on remediation work required under the government\u2019s developer remediation contract and said 87% of its buildings have now been completed or were in the final stages […]<\/p>\n","protected":false},"author":1,"featured_media":152,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-5610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/5610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=5610"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/5610\/revisions"}],"predecessor-version":[{"id":5611,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/5610\/revisions\/5611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/150"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=5610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=5610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=5610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}