Steelwork contractor records pre-tax profit of £7.2m for six months to 30 June.

Steelwork contractor Severfield-Rowen saw profit leap 40% during the first half of 2005, with a 17% rise in turnover.

The contractor, which is currently working on a series of high-profile projects including Heathrow Terminal 5 and the Millennium Dome redevelopment, recorded pre-tax profit of £7.2m for the six months to 30 June. Turnover rose to £112m over the same period.

Severfield-Rowen chairman Peter Levine said the group was now ahead of its original expectations for the full year. He said: “Demand for our products is encouraging, margins are improving and the growth prospects for the group give the directors every confidence in its future prospects.”

Figures were boosted by the performance of Atlas Ward, the shed and portal frames business acquired by Severfield-Rowen during the year, which performed ahead of expectations.