Morgan Sindall delivers record results

Morgan Sindall, which operates through five specialist divisions of fit out, construction, infrastructure services, affordable housing and urban regeneration, has today (19 February) announced another set of record results for the year ended 31 December 2007. Profit before tax and amortisation has increased 30 per cent to £62.1 million (2006: £47.6 million) on revenue of £2.1 billion up 41 per cent from £1.5 billion in 2006. Adjusted earnings per share grew by 34 per cent to 104.5p (2006: 78.2p), with the total dividend increased by 36 per cent to 38p. The Group’s forward order book has reached £4.3 billion up 30 per cent from £3.3 billion in 2006 representing year-on-year organic growth of 12 per cent.

"Our business strategy has proved highly successful in helping us to achieve record preliminary results, with all operating divisions delivering impressive profit growth,” says John Morgan, Morgan Sindall’s executive chairman. “The businesses we acquired last year have been substantially integrated and have extended our capabilities in construction, infrastructure services and urban regeneration, thereby bringing an increasing balance to the Group.

“The Group has a strong net cash balance and each of our divisions is well-positioned to meet both the challenges and opportunities we expect to see in 2008.”