Alfred McAlpine profits rise to £12.5m

Alfred McAlpine said it hoped to build on its shift towards outsourcing key support services and infrastructure projects after announcing gains on pre-tax profit and turnover in its interim results released today (Thursday).

The figures for the six-months ended 30 June, and before amortisation of goodwill, saw turnover stand at £341m (2001: £240.1m) and operating profit rise to £10.7m (2001: £5.6m). Pre-tax profit was up at £12m (2001: £9.5m).

McAlpine's capital projects division saw operating profit drop slightly to £9m (2001: £9.5m) and turnover fall to £159.6m (2001: £178m). However the group now has an order book worth £2.1bn and is expected to deliver its targeted 5%-6% margins.

In its support services and investment section, operating profit has soared to £7m (2001: £1.4m) following the £86.5m acquisition of facilities and IT network providers, Stiell Facilities and Stiell Networks, in March as part of a "strategic step to cross-fertilise skills and strengthen customer relations".

McAlpine chairman Oliver Whitehead said: "Our recent strategic acquisitions are performing to expectations and I am therefore confident that we will build on our established and successful track record for the year as a whole."