UK construction group Morgan Sindall, has posted record first-half results thanks to increawed demand for affordable housing. Daily Telegraph. Financial Times

Pretax profits jumped 18% to £25.2m, driven largely by a 13% uplift in affordable housing, which accounted for £11.5m of profits despite the knock-on effects of rising interest rates.

Revenue was £836m, up 24% from £674m in the same period last year.

The company it had increased the margin on affordable housing by concentrating on schemes with varied tenant agreements. It has also secured its first PFI contract worth £200m to build social housing.