ALFRED MCALPINE this week looked poised to fend off a takeover bid from property developer Brunswick after a strong set of interim results pushed its share price up.
Brunswick last week offered the contractor's shareholders 260p a share, but this week Alfred McAlpine shares had risen to match the offer price, effectively nullifying the bid.
Selective bidding helped Alfred McAlpine double its civil engineering profits from £1.8M to £3.2M. Civils turnover was static at £96.2M.
Special Projects, which includes stadia and private finance initiative jobs, increased operating profits from £200,000 to £1.8M, while turnover increased from £25.6M to £71.7M, boosted by a large paper mill contract on Merseyside.
Group pretax profits increased from £11.4M to £17.3M on turnover up from £321.7M to £355.7M.