Business
Interim Results for six month
Interim Results for six month.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n RNS Number : 5056A Morgan Sindall PLC 04 August 2008 \n04 August 2008 \n\nMORGAN SINDALL plc\n('Morgan Sindall' or 'the Group')\nInterim results for the six months to 30 June 2008\n\nMorgan Sindall plc, the construction and regeneration group, today announces record interim results. \n\n\n\n\n\n\n\n\n2008\n\n\n2007\n\n\n\n\n\n\n\nRevenue\n\n\n£1,239m\n\n\n£836m\n\n\n+48%\n\n\n\n\nAdjusted profit before tax¹\n\n\n£33.1m\n\n\n£25.2m\n\n\n+31%\n\n\n\n\nProfit before tax \n\n\n£28.6m\n\n\n£25.2m\n\n\n+13%\n\n\n\n\nCash balance\n\n\n£98m\n\n\n£62m\n\n\n+58%\n\n\n\n\nAdjusted earnings per share ¹\n\n\n60.9p\n\n\n41.1p\n\n\n+48%\n\n\n\n\nEarnings per share\n\n\n50.1p\n\n\n41.1p\n\n\n+22%\n\n\n\n\nInterim dividend per share\n\n\n12.0p\n\n\n10.0p\n\n\n+20%\n\n\n\n\n\n¹ Adjusted for amortisation of intangible assets\n\nGroup highlights\n\n\nRecord set of interim results\n\n\nContinued progress with strategy of developing market leading positions across all chosen sectors\n\n\nSignificant growth in Construction and Infrastructure Services divisions demonstrates success of acquisition\n\n\nGroup well placed to deliver long-term sustainable growth\n\n\nConfidence reflected in strength of order book and robust net cash position\n\n\n\nDivisional highlights\n\nFit Out\n\n\nStrong performance in mixed market conditions\n\n\nOperating profit of £11.5m (2007: £12.4m) on revenues of £205m (2007: £225m)\n\n\nRecord margin of 5.6%, demonstrating benefits of 'Perfect Delivery' quality programme\n\n\nOrder book increased both year-on-year and from the start of the year to £220m (2007: £206m)\n\n\nFocus on future growth from increased geographic and sector spread, and larger value contracts\n\n\n\nConstruction\n\n\nStrong public sector demand, particularly in education, while private sector demand remains robust apart from commercial property\n\n\nOperating profit up 86% to £4.1m (2007: £2.2m), after one-off costs of £1.0m relating to the acquisition, on revenues of £418m (2007: £199m) \n\n\nMargin, after adjusting for one-off costs, up to 1.2% (2007: 1.1%)\n\n\nPerformance improvement largely driven by acquisition impact\n\n\nOrder book of £828m (2007: £891m) \n\n\nEncouraging outlook with division's enhanced capabilities, p...