McAlpine hires Ludgate for City PR

Construction firm Alfred McAlpine has appointed Ludgate Communications to handle its City PR as it bids to revive its share price and increase margins after several years of sluggish performance.

Construction firm Alfred McAlpine has appointed Ludgate

Communications to handle its City PR as it bids to revive its share

price and increase margins after several years of sluggish

performance.



The incumbent agency was Square Mile which had held the account for the

last four years. Square Mile did not repitch for the business.



Shares in the construction sector have not performed spectacularly in

the last few years when compared with sectors such as IT or

pharmaceuticals.



Ludgate’s job is to attempt to revive interest in the company in light

of this. It will handle all aspects of financial PR and act as

McAlpine’s press office.



McAlpine specialises in housebuilding and civil engineering projects and

is attempting to grow the size of its housing business after the pounds

84 million takeover of rival Raine, which owned Hassall Homes, last

year.



The deal pushed McAlpine into the UK’s top ten housebuilders.



McAlpine’s shares rose around three per cent last year and are currently

trading at 147p having peaked at 320p in 1994. Brokers are predicting

profits of pounds 23 million for 1997.



Robin Hepburn, chief executive of Ludgate Communications, said: ’It is

always satisfying to win well known names like Alfred McAlpine.’



McAlpine’s business is mainly UK-based but around 20 per cent of its

turnover stems from the United States.



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