Business
Change in Reporting Segments
Change in Reporting Segments.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n \nRNS Number : 0545B Morgan Sindall Group PLC 14 June 2016 \n\n14 June 2016\n \n \nChange in Reporting Segments\n \nMorgan Sindall Group plc today announces a change to its divisional reporting in order to better align its reporting segments with the business strategy and operational management structure. \n \nThe Group's results for the half year ending 30 June 2016 will be published on 2 August 2016 and will be prepared in line with this new reporting structure. Ahead of these results, this announcement provides the comparator numbers based upon this new reporting structure for the prior year half year results ended 30 June 2015 and full year results ended 31 December 2015.\n \nRationale for change to reporting segments\n \nThe Group's strategy is focused on two distinct but complementary business activities: Construction and Regeneration. \n \nOperating within these two strategic lines of business, the Group has, to date, reported results in five reporting segments: Construction & Infrastructure, Fit Out, Affordable Housing, Urban Regeneration and Investments.\n \nIn order to better reflect the way the business is managed and operated, Affordable Housing will be split into two distinct reporting segments: (i) Property Services and (ii) Partnership Housing. \n \nProperty Services is focused on response maintenance activities provided to the social housing, insurance and general commercial sectors and is considered to be part of the Group's Construction activities.\n \nPartnership Housing is focused on working in partnerships with local authorities and housing associations. Activities include mixed-tenure housing developments, building and developing homes for open market sale and for social/affordable rent, 'design & build' house contracting and planned maintenance. This segment is considered to be part of the Group's Regeneration activities.\n \nRevised reporting structure\n \nCommencing with the results for the half year ending 30 June 2016, the Group will therefore report its results in six reporting segments\n \n· Construction & Infrastructure\n· Fit Out\n· Property Services\n· Partnership Housing \n· Urban Regeneration \n· Investme...