Contractor Mowlem has announced a 14% increase in pre-tax profit and a record £2.6bn order book in its interim results.
Profit rose from £14.5m to £16.5m for the first six months of 2003 compared with the same period last year. Orders soared 32%, largely on the back of increased PFI and facilities management contracts.

Group turnover for the period rose from £933m to £959m.

Mowlem chief executive Sir John Gains said: "At the moment we're quite comfortable with our order book, and see some good opportunities in infrastructure. The board is confident that our results for the year as a whole will be in line with expectations."

Mowlem is also preferred bidder on £2.4bn of PFI projects. These include a 25-35-year joint venture with US contractor Kellogg Brown & Root to build and maintain the Allenby and Connaught barracks in Wiltshire and Hampshire.