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Morgan Sindall posts record half year results

Morgan Sindall has announced record results for the six month interim period to 30 June 2007. Profit before tax rose by 18 per cent from £21.3 million in 2006, to £25.2 million in 2007 on an increased revenue of £836 million up from £674 million last year. The Group’s forward order book stands at a record £4.1 billion (2006: £3.4 billion). Earnings per share for the period grew by 16 per cent to 41.1p from last year’s 35.4p per share. The Board has declared an increased interim dividend up by 25 per cent to 10.00p from 8.00p in 2006.

“We have delivered impressive profit growth in all business areas. Fit Out and Affordable Housing have again returned strong profits, but equally pleasing is our performance in Infrastructure Services and Construction, with profits increasing from both,” says John Morgan, Morgan Sindall’s executive chairman.

“The recent acquisitions will further strengthen our Construction and Infrastructure Services divisions, and create a UK-wide leading urban regeneration business. The businesses are being fully integrated and we are confident that they will be earnings enhancing in this financial year.”