Construction group says pre-tax profit of £27.9m is due to strong performance in affordable housing and fit-out sectors.

Construction group Morgan Sindall has announced a record pre-tax profit of £27.9m for 2004, up 34% on the previous year.

This was off an improved turnover of £1.22bn, a rise of more than £80m. Executive chairman John Morgan said: “We have never been in better shape and look forward to another successful year.”

Morgan Sindall performed particularly well in the affordable housing and fit out sectors. In the former, turnover was up 31% to £364m and profit rose 51% to £13.45m, with a record order book of £1.34bn. Operating profit was £11.24m in the fit out market, up from £8.41m in 2003.

The group also announced that John Bishop will retire from the board at the upcoming annual general meeting in April. Bishop has been with Morgan Sindall for 10 years.