The plant-hire specialist said that the delay in CP7 rail works has “had an impact on trading in the final quarter but remains a significant opportunity for the Group into FY2026.”

A number of firms have also flagged slow spending in the £45bn Control Period (“CP7”), which commenced in April 2024.

Infrastructure specialist Renew said its profits would be hit by the delays while sources at Story Contracting said work was coming through slower than expected.

Piling specialist Van Elle also said “workload has been subdued in Rail, as the sector transitions from CP6 into CP7.”