Putnam’s bullish comments came despite a slight dip in performance during 2013.

The UK construction business recorded an operating profit of £41.9m in 2013 from £42.6m the previous year.

Turnover was up to £1,216m from £1,166m but margins were down to 3.4%  from 3.6%.

Putnam said: “The market is improving and we have secured or been named preferred bidder on a significant amount of work.

“When we take this into account, we are in a strong position going forward.

“We have weathered the economic recession well, securing strong results throughout the last five years.

“We are now looking forward to a period of planned growth and expansion thanks to the strategic choices made as part of our business plan and growth in our chosen sectors.

“There are major opportunities on the horizon and I am very optimistic about the future.”