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Morgan Sindall鈥檚 infrastructure division will become its biggest source of cash as the credit crunch bites, according to the company鈥檚 executive chairman.

After announcing strong results for the six months to 30 June, John Morgan said its Morgan Est arm had the biggest growth potential in the current market.

He said: 鈥淚nfrastructure is a key growth area; other areas like fit-out and commercial property will soften.鈥�

Deals include the 拢90m widening of the M1 between junctions 25 and 28 (pictured).

Morgan Sindall bought Amec鈥檚 developments and project services divisions last July for 拢26m. The deal helped infrastructure turnover rise 79% from 拢220.5m to 拢394.8m, and turnover at the Morgan Ashurst construction business more than doubled from 拢199m to 拢417.7m.

Overall, turnover in the half-year grew 48% from 拢836m to 拢1.24bn, largely thanks to what Morgan called the 鈥渢ransformational deal鈥� with Amec. Turnover growth was 4% with the Amec deal stripped out.

Pre-tax profit was up 13% from 拢25.2m to 拢28.6m and the group said it was on track to meet expectations for the full year. The consensus forecast is a profit of 拢68m on turnover of 拢2.47bn.

Morgan said the company was 鈥渒eeping a close eye鈥� on the fit-out arm and conceded the business, which includes the Overbury brand, may suffer in the downturn. He also said the Lovell affordable housing division was having a tough time, but added: 鈥淲e鈥檝e come off a hell of a boom in recent years.鈥�

n Utility infrastructure specialist Morrison Utility Services has doubled pre-tax profit in the year to 31 March 2008, from 拢10.2m to 拢20.4m. Turnover at the group, which was sold by Anglian Water Services to two private equity groups for 拢135m in March, rose 4% from 拢472m to 拢493m.