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Morgan Sindall profits down

CONSTRUCTION firm Morgan Sindall has said half-year profits were down eight per cent to £14.2 million as revenue fell two per cent to £998 million, despite an increased contribution from its urban regeneration arm.

The trend is expected to continue into the second half, accompanied by continued margin pressure in the construction and the affordable housing divisions. In Scotland the Lovell subsidiary was said to have secured contracts with a value of £59 million in the first six months of the year while Muse Developments is working on the £107 million Marischal Square plan in Aberdeen.

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