Solid progress for Alfred McAlpine

Alfred McAlpine is in good shape, has a strong management team, a proven track record and a strong balance sheet which provides the flexibility and the resources to create further shareholder value.

That was the conclusion of chairman Oliver Whitehead who was speaking at the Group's Annual General Meeting today (Thursday).

Whitehead added that the McAlpine Group had continued to make good progress following its reorganisation into three business streams - infrastructure services, business services and capital projects -  which has also enabled the Group to better position itself in its chosen markets and provide a wider geographical coverage of the UK.

On infrastructure services, Whitehead said: "The good progress reported previously has been maintained with solid growth in most areas of the business. The integration of the recent acquisitions has taken place and the benefits expected are being delivered."

On business services, he added: "The award of several major facilities management contracts is helping drive the organic growth and the public sector is providing opportunities for both our facilities and networks operations."

And as far as capital projects is concerned Whitehead concluded: "We continue to focus on achieving our targeted margins over
growth in turnover. The core business is delivering a robust performance. Given the slowdown in the commercial building market, but turnover in our building business will be lower."