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M&E specialist sees profit plunge as pandemic hits


Michael J Lonsdale’s pre-tax profit fell by 65 per cent due to the “enormous” impact of the coronavirus on the construction sector.
The London-based M&E specialist said pre-tax profit came in at £2.6m for the year ended 30 September 2020, in comparison to the £7.4m recorded for the previous year. Its turnover fell from £180.2m to £133m.
The company said that the pandemic’s “impact on construction was enormous”, adding that, “pre-construction services agreements [were] placed on hold, productivity reduced and sites closed while they were modified to implement COVID-19 restrictions”.
It also said that some of the missed turnover has been moved into the current financial year, which the company said would give the business a “strong foundation” to build on in its future results. ....

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Is the Olympic Park's redevelopment still on track?


Is the Olympic Park’s redevelopment still on track?
The London Legacy Development Corporation has been accused of not building enough affordable homes on the former London 2012 site. With less than four years before it winds down, can it still deliver on its lofty ambitions? asks
Will Ing
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‘It seems like everything with the London Legacy Development Corporation (LLDC) was set up with good intentions, but somewhere along the way things have been lost,’ says Susan Hall, who chairs the London Assembly’s Budget and Performance Committee.
‘From expensive white-elephant football stadiums to low levels of affordable housing, it is hard to understand or justify the continued investment in this project which fails to deliver time and again.’ ....

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