Revenues rise as cost of labour and materials drives up construction project prices

Just over one in five companies said in a new report by the Construction Industry Federation that they have increased the total number of employees in three months to the end of September

Access to skilled labour, securing a good profit margin on projects, and the increasing cost of raw materials was cited by firms as the most significant challenges the construction industry is currently facing. File picture: PA

A third of firms operating in the construction sector have seen revenue increase over the last year as growing costs continue to push up project prices for a majority, a new report by the Construction Industry Federation (CIF) shows.

In the CIF’s latest construction outlook survey, which sampled 242 construction companies across the country, 33% of companies reported an increase in turnover between July and September compared to the same period last year with 35% expecting turnover to increase during the last three months of 2024.