Building profits fall
Published: 19 February, 2013
Morgan Sindall and McLaren Construction Group have reported that their profits are down.
Pre-tax profits at Morgan Sindall fell 15% to £32.4m after a £10m one-off restructuring cost in the construction and affordable housing arms. Revenues in the year to December also fell 8% to around £2bn as demand dropped across construction.
The McLaren Construction Group's results at Companies House show turnover up 41% to £376.4m from £266.6m last time. But pre-tax profits dipped slightly to £6.1m from £7m the previous year. The group results cover McLaren's construction, property and international divisions.