A study of the UK’s 1,500 largest construction companies by business analysts Plimsoll has found that on average their value has risen by 9% in the last 12 months.

Further data showed that 339 of these companies had seen their value grow by 10% or more.

Commenting on the growth, David Pattison, Plimsoll’s lead author, said: “As a director, taking stock of your company value is a great barometer to measure your success and to analyse the overall state of the market.

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“…Their financial performance adds to the belief that the overall market is continually improving.”

'It is still a challenging landscape'

However, despite this positive outlook, Plimsoll found that 121 companies had seen their value fall by more than one-third.

In September, housebuilder Berkeley Group Holdings was dropped from the FTSE 100 following a decline in share price after the EU referendum.

Meanwhile, hundreds of jobs were lost as a result of a number of construction companies entering administration in 2016.

David added: “…It is clear that, although the market is improving, it is still a challenging landscape.”