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Alfred McAlpine upbeat as profits jump

Alfred McAlpine is confident that signs of recovery in the utilities market will turn into new work during the second half of the year.
The company booked a 10 per cent jump in pre tax profits at the half year stage up to £14.9 million from £13.5 million at the same stage last year.

Turnover also increased 10 per cent to £474.4 million in the six months to the end of June up from £430.7 million last time. Its capital projects and business services divisions achieved good growth and overall it is on track to hit its growth targets for the year, the company said.

Business in the utilities sector is showing signs of a return to normal after a number of regulatory reviews delayed new work being let. A new divisional chief executive Alan Robertson, joined from Perterhouse in May to implement management changes to improve its performance.

The company took a £1.9 million one-off hit after it pulled out of an underperforming contract and costs relating to the closure of two businesses.

Trading at its highways business continued to show good progress, reaping the rewards of local authorities outsourcing maintenance on the local road networks.

In early June Alfred McAlpine picked up the first big roads job to be let following the general election - a £50 million contract to upgrade the A494 in north east Wales for the Welsh Assembly.

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