RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Like Trump Said The fact that no figure was announced tells me the
sale of the SA unit was immaterial (small effect).
SNC is selling or closing all non profitable units which is good.
They also need to "lose weight" or reduce SG&A as it is increasingly focusing on SNCL Engineering Services.
The UK did well during Q4 as per this article in the Times (of tomorrow ;)
Infrastructure projects keep builders busy
Robert Lea
February 4 2021, The Times
Building railways, widening roads, extending broadband, erecting nuclear power stations and wind farms and modernising power networks and water mains is keeping the construction industry going as it suffers a lack of investment on the high street and in city centres.
In the last quarter of 2020, before the latest lockdowns, construction industry workloads increased for the first time since 2019, according to data from the Royal Institution of Chartered Surveyors, the professional body.
The data — expressed as the percentage of those reporting increased workloads minus the percentage suffering decreases — found a net 2 per cent were busier in the three months between October and December. That compares with -7 per cent between July and September, when the industry was hit by the lockdowns that started to be introduced at the end of the year.
The figures mask a tale of three sectors. Commercial development in retail and offices fell by 22 per cent. Housebuilding, both in the public and private sectors, was up by about 10 per cent.
Infrastructure workloads appeared to be booming, however, up 26 per cent in the last three months of the year, making up for the shutdown of much of the industry in the first lockdown quarter between April and June, when business contracted by 17 per cent.
On the railways Crossrail, hopelessly late and over budget, is still sucking in spending while the north-south relief railway HS2 has cranked into action as demonstrators at London Euston and country walkers in Buckinghamshire and Warwickshire will attest.
Long-planned investments in broadband, the construction of Hinkley Point power station, the commencement of work on the Dogger Bank windfarm in the North Sea and work on the onshore overhead pylon network, and by the water industry charged with saving water and stopping flooding are also in full swing.
“It is critical that the government continues to focus on delivering on its ambitions around ‘levelling up’ and ‘net zero’ while building a sustainable economic recovery using the forthcoming budget to embed these goals,” Simon Rubinsohn, the institution’s chief economist, said.