The whole portfolio's margin, on one page
The commercial team's starting point: blended margin against the 22.0% target, all eight contracts ranked, and Kingsferry Crossing as the largest named WIP priority. Meridian M&E, April 2026.
- Client
- Meridian M&E Ltd
- Portfolio
- 8 contracts · £14.2m
- Reference
- MER-MMS-P7
- Period
- April 2026 · Month 7
- Prepared by
- BuiltAI Intelligence Ltd
- Status
- Below target
Illustrative example: fictional project and parties.
Blended margin 21.4%, just under the 22.0% target
The portfolio is within 0.6 of a point of target. Four of the eight contracts are at or above 22.0%; four sit below, led by Kingsferry Crossing at 18.1%. The reported £85k gap estimate needs its period and calculation basis confirmed.
The eight named WIP balances total £1,326.8k; the tracker adds £513.2k of smaller and closing works to the reported £1.84m total. The scope of its “+12” row requires confirmation. The CNI summary allocation also remains unresolved.
Margin by contract
All 8 named contracts by margin against the 22.0% target, with the work in progress held on each. Sorted strongest to weakest; the four below-target contracts carry the recovery focus for the month.
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| Ref | Contract | Margin | vs 22.0% | WIP | Status |
|---|---|---|---|---|---|
| CRES-2 | Crestfield Phase 2 | 23.2% | +1.2 | £102k | Above |
| WHIT-T | Whitmore Tower | 22.8% | +0.8 | £142k | Above |
| DOCK-2 | Docklands Phase 2 | 22.4% | +0.4 | £96k | Above |
| NRTH-G | Northgate Cat-B | 22.1% | +0.1 | £118k | Above |
| BLUE-T | Bluewater Tower | 21.6% | −0.4 | £178k | Below |
| RIVR-FM | Riverside FM | 19.8% | −2.2 | £124.8k | Below |
| CATH-Q | Cathedral Quarter | 19.4% | −2.6 | £86k | Below |
| MERS-G | Kingsferry Crossing | 18.1% | −3.9 | £480k | Below |
| Portfolio blended | 21.4% | −0.6 | £1.84m | 8 contracts | |
Kingsferry Crossing (MERS-G) holds the largest named WIP balance at £480k and sits 3.9 points below target. It is the priority on this month's action log; relative net margin recovery is not established.
Balances needing commercial action
Work and change values need valuation, agreement, billing and payment as applicable. These reporting balances can overlap; they are not separate cash receipts or net margin.
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| Position | What it is | Value | Status |
|---|---|---|---|
| Work in progress | Delivered, not yet in a valuation · £387k aged over 60 days | £1.84m | £387k aged |
| Completed not invoiced | Valued and certified, not yet billed | £214k | Clearing |
| Invoice blockers | Billing held by a PO, a sign-off or a query | £601k | Held |
| Variation pipeline | Change agreed, submitted and in preparation | £482k | In recovery |
The £601k blocker analysis already comprises £387k aged WIP plus £214k CNI; it is not an additional balance. Progress valuation, billing and the £482k change pipeline, subject to agreement, costs and payment. The reported final-account forecast is £14.08m.
The forecast and the ask
The reported £14.08m final-account forecast and recovery toward the 22.0% margin target depend on other contract actions as well as Kingsferry Crossing. Its £480k WIP is the largest named balance; recovery still depends on valuation, billing, costs and collection, not one contract alone.
- Portfolio value
- £14.2m across 8 contracts
- Blended margin
- 21.4% against a 22.0% target
- Work in progress
- £1.84m, of which £387k is aged over 60 days
- Completed not invoiced
- £214k awaiting billing
- Invoice blockers
- £601k held pending a PO, sign-off or query
- Variation pipeline
- £482k agreed, submitted and in preparation
- Final-account forecast
- £14.08m