McNicholas Construction has posted a 32% jump in pre-tax profit from £3.2m to £4.2m in the year to 31 March 2008. Turnover at the utilities specialist was down from £170m to £168m.

The company ended the year with net cash of £15.2m, up 17% from £13m in 2007. It said the business had seen strong growth in the water and rail sectors.