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Morgan Sindall delivers record half year results

Morgan Sindall has announced record results for the six months to 30 June 2008. Profit before tax and amortisation of intangible assets rose by 31 per to £33.1 million (2007: £25.2 million) on an increased revenue of £1.24 billion up 48 per cent from £836 million for the corresponding period last year. The Group’s forward order book stands at £4.2 billion (2007: £4.1 billion). Adjusted earnings per share for the period grew by 48 per cent to 60.9p per share (2007: 41.1p). The Board has declared an increased interim dividend of 12.0p up 20 per cent from 10.0p in 2007.

“Despite challenging market conditions, we have delivered a record set of interim results. We remain on track to deliver record results for this year in line with our expectations,” says John Morgan, Morgan Sindall executive chairman. “We are pleased with the acquisition we made last year. It brings an increasing balance to the Group and improves our market leading positions in construction, infrastructure and regeneration. Our cash position remains strong, while our order book of £4.2 billion gives us confidence for the future.”