Against a backdrop of challenging trading conditions Morgan Sindall Group plc, the construction and regeneration company, has delivered a solid set of preliminary results for the year ended 31 December 2012, released today (19 February 2013).
Profit before tax, amortisation and non-recurring items was £47.1m (2011: £45.3m) on revenues of £2,047m (2011: £2,227m). Adjusted earnings per share were 79.3p (2011: 86.7p). The dividend for the year is 27.0p per share (2011: 42.0p). The Group’s forward order book currently stands at £3.1bn (2011: £3.4bn) with £0.5bn (2011: £0.3bn) of projects at preferred bidder stage. The Group also reports a growing regeneration pipeline of £2.1bn (2011: £1.8bn) with a further £0.4bn (2011: £0.6bn) of regeneration schemes at preferred developer stage.
“2012 has seen a solid performance in what has been a very tough market. The newly structured Board is focused on managing the business tightly to ensure we emerge from the downturn in a strong position to take advantage of the opportunities we believe lie ahead,” says John Morgan, the Group’s chief executive.
“Our exposure to infrastructure continues to grow, and we see further opportunity to leverage our strong track record and gain market share. The momentum in our regeneration pipeline reinforces our confidence that returns from our investment will start to increase over the medium term and deliver superior returns.”