Support services group Alfred McAlpine has revealed it aims to cash in on the huge task of fixing the country's leaking water pipes.
The company revealed the hope as it announced a six per cent rise in pre-tax profits to £16.8 million during the first six months of the year.
Water companies, including Thames Water, Severn Trent and Northumbrian Water, already outsourcing work to McAlpine as part of their response to industry-wide calls from the regulator Ofwat to tackle leakages.
Last month Ofwat chose not to fine Thames Water for failing to hit leakage targets, but ordered it to spend an extra £150 million to replace pipes.
Chief executive Ian Grice said yesterday he hoped McAlpine could pick up some of the additional work.
The company also reported it had secured more than £150 million worth of new business since the start of the second half of the year.
The work includes an £8 million contract to build a new bridge linking Dartford with the new Thames side Crossways Business Park and a £18 million deal to improve junction 14 of the M1 near Milton Keynes.
Mr Grice said: "The strength of our order book, the recovery in utility spending and our healthy pipeline of opportunities across the business, give us confidence we will achieve the cash-backed double digit growth that we have targeted for the full year."
In the first half, the company renewed a major contract with energy business Eon's distribution arm, Central Networks.
The contract - over four years with provision for a five year extension - is valued at more than £20 million a year.
It covers areas including design, project management and the delivery of cable, overhead line and sub-station networks across the Midlands and will also support Eon UK's Energy Services business.
McAlpine is also part the consortium behind the £30 million revamp of Baskerville House in Birmingham's city centre.
Shares in McAlpine lifted 9 1/2p to 472 1/2p after the company also announced a ten per cent increase in the interim dividend to 6p.
The group's pretax profit for the six months to the end of June, of £16.8 million, was up from £15.9 million in the prior year. It came on revenues of £541.8 million, up from £474.4 million.
At the end of the half-year the group's order book stood at £3.7 billion.
Mr Grice said the strong first half results reflected the strength of the group's markets.
They were being driven by the continuing trend to outsource the maintenance and management of buildings and by the high levels of investment required to maintain and renew the UK's health, leisure and education facilities and its transport and utility infrastructures.