RNS Number:9843T
McAlpine (Alfred) PLC
08 January 2004



                      Alfred McAlpine plc - Trading Update

Alfred McAlpine plc (McAlpine) today announces that its overall financial
performance for the year ended 31 December 2003 is in line with market
expectations.

Over the last three years McAlpine has re-shaped its business, exiting
house-building in 2001 and building a strong presence in support services
through a series of acquisitions. Since January 2003 the company has operated
through three principal business streams, Business Services, Capital Projects
and Infrastructure Services.

Chief Executive Ian Grice said: 'We now have a strong, blended business, with
around two thirds of revenue and profits coming from support services and one
third from our construction services activities. Our acquisitions are all
delivering in line with expectations, our new-structure is now fully
implemented, and a number of major contract wins in the second half of the year
further strengthened our base of visible, long-term earnings.

'Looking ahead, our primary focus remains on delivering strong organic growth
whilst maintaining current margins across all activities. The Board continues to
believe that delivery of our operational performance objectives combined with
bolt-on acquisitions and our ongoing share-buyback programme is a strong
platform from which to maximise shareholder value.'

McAlpine will make its preliminary announcement of 2003 results on March 11th
2004.

Notes to Editors

   * McAlpine is now a service business focused on the built environment. It
     employs nearly 8000 people and operates through three principal business
     streams:
      * Business Services - which focuses on facilities and asset management,
        information systems, and workplace advisory services.
      * Capital Projects - which focuses on construction and civil
        engineering services.
      * Infrastructure Services - which focuses on utilities and highways
        maintenance and renewal.

   * Each business stream accounts for approximately one third of the
     company's sales (#768m in 2002).

   * McAlpine has restructured its business over the last two years, moving
     out of house-building (it sold its homes business to Wimpey in 2001) and
     making seven acquisitions to establish its Infrastructure Services and
     Business Services operations.


Date: 8 January 2004
For further information contact:

Alfred McAlpine PLC                           www.mcalpineplc.com
Ian Grice, Chief Executive                    020 7930 6255
Dominic Lavelle, Finance Director
Bill Loch, Communications Director

City Profile
Simon Courtenay                               020 7448 3244




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
TSTKDLFBZFBXBBV