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Morgan Sindall delivers solid set of half year results

Morgan Sindall Group, which operates through four specialist divisions of Construction and Infrastructure, Fit Out, Affordable Housing and Urban Regeneration, and an Investment unit, has today announced solid results in line with expectations for the six months to 30 June 2010.

The Group’s profit before tax, amortisation of intangible assets and non-recurring costs was £23.1 million (2009: £23.9 million) on revenue of £982 million (2009: £1.14 billion). The Group’s forward order book has increased to £3.7 billion (2009: £3.6 billion). Adjusted earnings per share for the period were 42.0p (2009: 42.6p). The Board has declared a maintained interim dividend of 12.0p (2009: 12.0p).

“These results demonstrate our continued strategic and operational progress,” says John Morgan, the Group’s executive chairman. “Whilst we are conscious that market conditions remain challenging, our financial strength, breadth of capabilities and leading positions across a range of market sectors leave us well placed to capture further market share. We look to the future with confidence.”