Business
Interim Results
Interim Results.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n Morgan Sindall PLC\n06 August 2007\n\n\n MORGAN SINDALL plc\n\n ('Morgan Sindall' or 'the Group')\n\n\nInterim results for the six months to 30 June 2007\n\n\n6 August 2007\n\n\nMorgan Sindall plc, the construction and regeneration group that now operates\nwithin five divisions; Affordable Housing, Construction, Development, Fit Out\nand Infrastructure Services today announces record interim results.\n\n 2007 2006\nRevenue £836m £674m + 24%\nProfit before tax £25.2m £21.3m + 18%\nCash balance £62.4m £20.5m +205%\nOrder book, including impact of acquisition £4.1bn £3.4bn + 23%\nEarnings per share 41.1p 35.4p + 16%\nInterim dividend per share 10.0p 8.0p + 25%\n\n\nGroup Highlights\n\n\n •Strategy continues to deliver long-term sustainable growth\n\n\n •Record interim results\n\n\n •Growth driven by enhanced profitability across all divisions\n\n\n •Acquisition of Amec Developments (ADL) and Amec Design and Project\n Services (DPS) completed since period end\n\n\n\nDivisional Highlights\n\n\nFit Out\n\n •Profit up 21% to £12.4m (2006: £10.2m) on revenue of £225m (2006: £182m)\n •Margins at 5.5% (2006: 5.6%)\n •Market remains very strong with order book increasing to £206m (2006:\n £165m)\n •Strong market expected to continue into next year\n\n\nConstruction\n\n •Revenue grew strongly to £199m (2006: £162m) with profit rising to £2.2m\n (2006: £1.6m)\n •Successful in securing the Bury, Tameside and Glossop NHS LIFT scheme\n •Financial close on the Dorset Emergency Services and Police Initiative\n (DESPI) PFI\n •Business rebranded as Morgan Ashurst following acquisition of DPS\n •Order book at £891m (2006: £487m) following inclusion of DPS'\n construction future workload. It has further increased by £65m since the\n period end\n\n\nInfrastructure Services\n\n •Revenue growth of 54% to £220m (2006: £143m) and profit increased to\n £4.0m (2006: £2.7m)\n •Order book at £1.5bn (2006: £1.3bn) following inclusion of DPS' civil\n engineering future workload\n •Division expected to return to previous margin levels in 2008\n\n\nAffordable Housing\n\n •Profit up 13% to £11.5m (2006: £10.2m) on revenue of £192m (2006: £186m)\n •Margin increased due to continued focus on mixed tenure opportunities\n •First social housing PFI secured\n •Order book of £1.5bn (2006: £1.4bn)...