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Results

NEWS

Alfred McAlpine Work on major privately financed projects helped Alfred McAlpine increase contracting profits in 2001, according to results published last week.

Alfred McAlpine capital projects increased operating profits from £16.4M in 2000 to £18.1M in 2001, while the division's turnover increased from £308M to £335M.

Contracting margins outstripped those of most competitors at 6.9%.

Alfred McAlpine group operating profits rose from £60.6M to £63M, while turnover increased from £376.1M to £554M.

Carillion Costs of bidding for more public private partnership (PPP) projects hit Carillion in 2001.

As a result, operating profits made by the construction services division fell to £22.3M from £25.7M last year on turnover down from £1.49bn to £1.3bn.

Carillion said its contracting division's turnover fell because it was adopting a more selective approach to bidding. This was reflected in improved margins which rose from 1.9% to 2.4%.

Interserve Growing contracting profits underpinned a strong performance by Interserve in 2001.

The former Tilbury Douglas contracting business increased operating profits from £11.2M to £14.7M on turnover up from £450.4M to £537.8M.

Interserve group pre-tax profits increased from £34.2M to £39.3M. Group turnover increased from £880.4M to £1.243bn.

John Laing The former construction giant cemented its fall by reporting a £24.7M pre-tax loss for the year to 31 December, compared to a £5.7M profit in 2000.

Losses of £94.5M run up by its construction business combined with £33.6M costs incurred when Laing Construction was sold to O'Rourke last year offset improved operating profits in the rest of the business.

Amey Bidding for large scale contracts led to pre-tax losses of £18.3M in the year to 31 December, compared to a pre-tax profit of £27.3M in 2000.

Changes in accounting systems, meant Amey wrote off 'significant pre-contract and similar in-contract costs' and deferred an element of future income. But it claimed to have won nine jobs worth £1.9bn in 2001 and nine worth £922M in 2002, lifting orders to a record £4.3bn.

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