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Two North East firms named leading UK construction companies

Date 18 Dec 2007

Two construction companies established in the North East have ranked in the top 40 of business advisory firm Deloitte's analysis of the top 100 construction firms in Europe.

Barratt Developments Plc was ranked at 23rd place and Bellway Plc ranked in at 40th in Deloitte's European Top 100, which analyses the financial performance of the UK's biggest construction and housebuilding companies.

'The European Powers of Construction 2007,' an annual report from Deloitte, looks at construction company performance. The study ranks the largest 100 European builders by revenue, and examines the hurdles construction companies face in an increasingly challenging building environment.

While this year's ranking does not have any UK companies in the top 10, UK firms dominate the top 100 survey, accounting for 33 of the top 100 places. The UK has over 250,000 companies active in the industry, employing 2.2million people and accounting for 6.64% of UK GDP.

Stuart Cottee, tax partner at Deloitte Newcastle said: "The list of the largest construction companies in the UK, and indeed the list of the largest firms in Europe are becoming increasingly populated by the house builders and will continue to do so given the widespread consolidation that is taking place in the sector."

"Due to inflationary pressures and rising interest rates, growth in the house building sector is expected to slow further in the near future. However, given projected UK housing shortages, the longer term outlook remains positive."

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