Better than expected results will help Alfred McAlpine make bolt-on acquisitions and further moves into support services, according to chief executive Oliver Whitehead.
Whitehead picked out margins made by the group's construction services, housebuilding and special projects divisions. He said these were testimony to the firm's policy of delivering sustainable growth.

He said: "We all know about this industry doing well one year and in a black hole the next. We're not going to do that." Housebuilding achieved a margin of 12.8%, ahead of the group's target of 12%, and a margin of 6.4% was achieved in the construction services division.

Finance director Jeff Hume said: "You won't find many margins like that in the industry." Alfred McAlpine's preliminary results for the year ending 31 December 2000 showed a 29% increase in pre-tax profit from £46.5m in 1999 to £60.2m. Turnover was up to £839.5m from £790.95m.

We all know about doing well one year and in a black hole the next. We’re not going to do that

Oliver Whitehead, Alfred McAlpine

Last November, Alfred McAlpine rejected a £244m takeover bid by Gerald Ronson's Heron International.