Contractor Alfred McAlpine has decided to put £100m of capital into an acquisitions warchest, rather than returning it to shareholders, as originally planned.
The money will be used to continue the contractor's strategy of repositioning itself as a support services company.

It has spent £170m on this in recent years, mostly on the acquisition of companies in the services sector.

Alfred McAlpine said last week that its annual figures should be in line with expectations.

Sources close to the company said the £100m would be used to acquire firms for its infrastructure services and business services divisions – with Amey's roads business confirmed as a potential target. "Bolt-ons" for its construction business are unlikely.