6 August 2012
British construction group Morgan Sindall's first-half profit rose 13%, but the company said the market would remain challenging in the short term due to a delayed economic recovery.
Profit before tax rose to £18.8 million for January-June from £16.7 million a year earlier.
Revenue, however, fell 8% to £1 billion on weaker construction and infrastructure revenue.
Morgan Sindall said it has a forward order book of £3.2 billion, down from the £3.5 billion it had a year earlier.
"The business environment remains challenging as the continuing uncertainties in the eurozone and further afield affect global sentiment, which in turn are impacting public spending and private sector confidence in the UK market," the company said in a statement.
