A solid performance by Brighton-based construction company Bluestone contributed to a record £20.92 million profit for its parent company Morgan Sindall.

Morgan, which operates a national network of construction, affordable housing and infrastructure services, saw pre-tax profits rise by 35 per cent.

For the year ending December 31, 2003, Morgan reported a turnover of £1.14 billion, up ten per cent from £1.04 billion in 2002, and a forward order book of £1.63 billion.

Earnings per share grew by 42 per cent to 36.04p, with total dividends of 16.50p, a ten per cent increase from 15p in 2002. A Morgan spokesman said the success of Bluestone had contributed significantly to the results.

The company, based in Preston Road, secured contracts worth £21 million, including an £8 million project for West Sussex County Council to build two special needs schools in Crawley.

Stephen Scard, Bluestone regional manager, said: "We see continued growth this year, particularly in public sector work. Important growth areas for the business continue to be in healthcare and education construction."

Friday February 20, 2004