THE firm behind the £130 million Time Square development has reported rising profits.

Muse Developments, which is delivering on the town centre regeneration scheme, has contributed to half-year results released by parent company Morgan Sindall Group.

Morgan Sindall Group confirmed it has delivered profit growth in the first half of this year, with adjusted operating profit up 28 per cent to £31.9 million.

For the first half of the year, Muse moved forward on 21 projects with a total construction value of £450 million.

The company, which expects a further £310 million of contract awards over the next six months, also 'maintained a healthy order book and development pipeline', which now stands at £2.2 billion.

Phil Mayall, regional director for the north west and Wales at Muse Developments, said: "It's been a strong start to the year for Muse, with significant progress on many of our regeneration schemes across the region.

"Construction of our major new leisure quarter at Time Square in Warrington is well under way, which will provide a multi-screen Cineworld cinema, along with a range of restaurant outlets and a new public square for the town to enjoy."

The construction of the Time Square masterplan will be finished by the end of 2019, before the final elements of the scheme are completed.

It is on track to officially open in early 2020.