Morgan Sindall has reported pretax profits of £15.4m for the first six months of the year as performance improved across all divisions.
At an operating level, last year’s £25m first-half loss became a £17.5m profit this year.
In the first half of 2015 Morgan Sindall wrote off £40m for historic losses on the Faslane naval base project in Scotland, which pushed it into a £27.2m pretax loss for the period.
There is no such red ink this time, although a further £700,000 exceptional charge was logged against a second old contract that transferred as part of the acquisition of the design and project services division of Amec in 2007 – thus drawing a line under the affair.
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