Construction and regeneration company Morgan Sindall Group plc has delivered a resilient set of preliminary results released today (21 February 2012).
Profit before tax and amortisation was £45.3 million (2010: £51.3 million) with revenue up six per cent at £2,227 million (2010: £2,102 million). Adjusted earnings per share were 82.5p (2010: 92.9p), with no change to the total dividend which remains at 42.0p (2010: 42.0p). The Group’s forward order book currently stands at £3.4 billion (2010: £3.6 billion) with a growing regeneration pipeline of £1.8 billion (2010: £1.4 billion), and a further £0.6 billion of regeneration schemes at preferred developer stage.
“We are pleased to report a solid set of results for 2011 in line with expectations, despite continued challenging markets,” says John Morgan, the Group’s executive chairman.
“We are benefiting from being a broadly based business, offering creative, integrated solutions for increasingly complex projects, with a track record of delivery. We are focused on maximising opportunities in sectors we believe offer the most growth and reward. We continue to invest for sustainable growth in the medium-term whilst maintaining a strong balance sheet and dividend.”