Revenue climbed by 26 per cent to £173.324m (2007: £137.564m).

Underlying group operating profit, before the amortisation of acquired intangible assets of £4.57m and the valuation of derivative financial instruments of £0.79m in 2008, was £26.948m - up by 77.8 per cent on last year's £15.159m.

Underlying profit before tax was up by 59.6 per cent at £25.342m (2007: £15.883m).

Retained profit after tax was up 26.7 per cent at £13.891m (2007: 10.965m).

The interim dividend is up 48.1 per cent at 10p (2007: 6.75p).

The company said cash generated from operations of £35.64m contributed to the reduction in net debt to £35.86m. The order book was described as "very strong" at £431m and the company said it was confident of meeting management expectations for 2008.

Projects undertaken in the period included work at Dublin International Airport, Wimbledon's Centre Court and Glasgow Museum.

Tom Haughey, chief executive officer, said: "Severfield-Rowen has delivered substantial growth in the first half of 2008 and is very pleased with the improvement in its financial performance, the strength and longevity of the order book and the very strong cash generation.

"The general UK economic background, and its impact on the construction sector, cannot be ignored - however, we are not exposed to the residential sector and our significant share of Olympic-related work illustrates our competences and value, as well as our high supplier preference rating.

"Our order book continues to replenish and the company's strengths enable it to increase UK domestic market share and engage large prime international contracts where significant opportunities prevail.

"The group's robust financial position and continued strong cash generation provides a platform for our growth ambitions, including overseas investment.

"Accordingly, we are confident of meeting the board's expectations for 2008 and have a clear strategy to deliver continued shareholder value over the medium and long term."