Business
Preliminary results for the year ended 31 Dec 2010
Preliminary results for the year ended 31 Dec 2010.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 6093B Morgan Sindall Group PLC 22 February 2011 \n \n\nMORGAN SINDALL GROUP PLC\n('Morgan Sindall' or 'the Group')\n \nPreliminary results for the year ended 31 December 2010\n \nMorgan Sindall Group plc, the construction and regeneration group, today announces its preliminary results for the year ended 31 December 2010. \n \n\n\n\n\n\n\n\n2010\n\n\n2009\n\n\n\n\n\n\n\nRevenue\n\n\n£2,102m\n\n\n£2,214m\n\n\n-5%\n\n\n\n\nProfit before tax, amortisation and non-recurring items\n\n\n£51.3m\n\n\n£51.5m\n\n\nno change\n\n\n\n\nProfit before tax \n\n\n£40.7m\n\n\n£44.7m\n\n\n-9%\n\n\n\n\nYear end cash balance\n\n\n£149m\n\n\n£118m\n\n\n+26%\n\n\n\n\nAverage cash balance\n\n\n£63m\n\n\n£31m\n\n\n+103%\n\n\n\n\nAdjusted earnings per share1\n\n\n92.9p\n\n\n93.9p\n\n\n-1%\n\n\n\n\nBasic earnings per share\n\n\n70.5p\n\n\n77.9p\n\n\n-9%\n\n\n\n\nTotal dividend per share\n\n\n42.0p\n\n\n42.0p\n\n\nno change\n\n\n\n\n \n1 Basic earnings per share before amortisation of intangible assets and non-recurring items\n \nGroup Highlights\n \n· Strong financial and operational performance reflecting the market leading positions of each of the Group's operating divisions\n· Group continues to secure profitable market opportunities \n· Full-service Affordable Housing offering created by extending response and planned maintenance capability through acquisition of the social housing business from Connaught\n· Construction and Infrastructure Services divisions combined to deliver integrated service and increase efficiency\n· Continued focus on cost control with £59m of accumulated annualised savings realised over the past three years, including £21m realised in 2010\n· Strong balance sheet with net cash balance of £149m (2009: £118m), £100m of undrawn facilities and a defined benefit pension deficit of only £2m (2009: £3m)\n· Total dividend maintained at 42.0p, reflecting balance sheet strength and confidence in future prospects\n \nOutlook\n \n· Order book increased to £3.6bn (2009: £3.2bn), supplemented by Urban Regeneration's development pipel...