New-build sector sees positive signs

POSITIVE signs are emerging from the new-build housing sector, according to Alex McLeod, chief executive of Stirling-based insulation firm Superglass.

Profits at the company slumped by 44 per cent in the year to 31 August as the downturn in the construction sector took its toll. But at the firm's annual general meeting yesterday, McLeod said trading between September and January had been "in line" with management's expectations.

Trading had been buoyed by a fresh contract with a builders' merchant buying group.