Morgan Sindall profits and sales fall
The group - which has construction, infrastructure, urban regeneration and fit-out divisions - reported a 5 per cent drop in sales to 2.1 billion as "challenging" conditions left full-year profits at 40.7 million.
The affordable housing arm hiked profits by 8 per cent to 16.1m and saw its order book improve to 1.5bn after the acquisition of some assets at collapsed firm Connaught boosted its services in social housing.
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Hide AdWith the division also lifted by an earlier deal to buy MJ Gleeson's maintenance arm - Powerminster - Lovell secured contracts with 45 local authorities and housing associations.
The group said the deals extended its coverage in the south and south-west of England. Its workload has also been buoyed by the award of a 45m social housing contract to create 545 homes for West Lothian Council and a 75m redevelopment contract for Glasgow City Council. Nearly 800 of the firm's 7,000 staff are based in Scotland.