Company also makes plans to restructure into two separately companies

Alfred McAlpine has put its PFI concessions and slate business up for sale.

The company also plans to demerge its core businesses and restructure the firm into two separately listed companies – one for business services and one for infrastructure and project services.

Ian Grice, chief executive

The planned demerger is set to be complete by spring 2008.

The news comes as Alfred McAlpine released its interim results for the six months ending in 30 June 2007. Pre-tax profit rose 55% to £12.7m, compared to £8.2m (restated) for the same period last year.

Revenue increased by 11% to £615.3m, compared to £552.5m (restated) from last year.

The sale of the PFI concessions has already commenced and the company has received a number of expressions of interest, the firm reported.

Alfred McAlpine’s slate business, which hit the headlines earlier this year after an investigation by an internal team uncovered fraudulent reporting, has received a high level of unsolicited interest, the firm said, and the sale process will begin shortly.

Ian Grice, chief executive, said: "'In the coming months, we will be undertaking the detailed work needed to implement the planned demerger. We will also be progressing the sale of our slate business and our PFI concessions.

"Longer term, we are confident that this strategy for the group will enable both companies to flourish and grow and is in the best interests of shareholders, customers and employees."