Against a backdrop of challenging trading conditions construction and regeneration group Morgan Sindall has delivered robust preliminary results announced today, (23 February) for the year ended 31 December 2009.
Profit before tax and amortisation was £51.5 million (2008: £71.4 million) on revenue of £2,214 million (2008: £2,548). Adjusted earnings per share was 93.9p (2008:127.8p), with no change to the total dividend which remains at 42.0p (2008: 42.0p). The Group’s forward order book currently stands at £3.2 billion (2008: £3.7 billion), and it starts 2010 with a £0.9 billion pipeline of projects at preferred bidder stage. The Group had no work at preferred bidder stage this time last year.
"These results reflect a very satisfactory performance in difficult trading conditions. We remain in a strong financial position and are well placed to take advantage of the opportunities which the market will present,” says John Morgan, the Group’s executive chairman. “The markets in 2010 will be similar to those we experienced in 2009 but we remain confident of making good progress throughout the year.”