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Morgan Sindall delivers solid half-year performance

The Group’s profit before tax and amortisation of intangible assets was £23.9 million (2008: £33.1 million) on revenue of £1.14 billion (2008: £1.24 billion). The Group’s forward order book stands at £3.6 billion (2008: £4.2 billion). Adjusted earnings per share for the period were 42.6p (2008: 60.9p). The Board has declared a maintained interim dividend of 12.0p (2008: 12.0p).

“While the construction industry will face challenging trading conditions in the short term, we are in good shape and will emerge from the downturn a much stronger business,” says John Morgan, Morgan Sindall’s executive chairman. “Operationally and financially we are well set to take advantage of the opportunities for further growth that will arise in our chosen markets.

“We are confident of meeting our expectations for 2009.”