Equans suffers £146m loss and quits new build housing

Bouygues-owned contractor Equans Regeneration has pulled out of bidding for housing association new build work after plunging to a £146m operating loss.
Colin Macpherson, chief executive at Equans UK, blamed cost inflation, supply chain failures, legislative changes and  ‘unsustainably low levels of return’ across the industry for its problems.
He said the social housing business would work through existing new build contracts leading to a complete withdrawal from the sect