Sir Robert McAlpine has reported an 80% increase in profit, boosted by several lucrative stadia construction contracts, despite a turnover fall.
The contractor, which filed its annual results under parent Newarthill at Companies House, delivered a 拢61m pre-tax profit for the year to 31 October 2009, compared to 拢33m in the previous year.
Group turnover, excluding its share of revenue from joint ventures, fell 8% to 拢1.56bn.
McAlpine's property business had a difficult year, with turnover at the division dropping from 拢45m to only 拢1.3m.
The business had net cash of 拢92.3m at the end of October 2009.
McAlpine is building the 80,000 capacity Olympic Stadium in Stratford, east London. Its other stadia projects include the National Indoor Sports Arena and the Sir Chris Hoy Velodrome in Glasgow.
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