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St Modwen progresses North West projects as profits rise

Birchwood-based national developer St Modwen has posted a 91% increase in its pre-tax profits, up from £135.4m in 2014 to £258.4m in 2015.

The increase was attributed to an £201.7m valuation increase in its £1.7bn portfolio. St Modwen’s £127m share in the 500,000 sq ft New Covent Garden Market scheme in London, which it is delivering in a joint venture with Vinci, was a major contributor.

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