Morgan Sindall performance helps parent group’s results

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Construction, infrastructure and design business Morgan Sindall plc has contributed to a robust set of preliminary results for the year ended 31 December 2010, released on 22 February 2011 by parent construction and regeneration group Morgan Sindall Group plc.

Against a backdrop of challenging trading conditions Morgan Sindall Group delivered a robust performance in 2010. Profit before tax and amortisation was £51.3 million (2009: £51.5 million) on revenue of £2,102 million (2009: £2,214 million). Adjusted earnings per share were 92.9p (2009: 93.9p), with no change to the total dividend which remains at 42.0p (2009: 42.0p). The Group’s forward order book currently stands at £3.6 billion (2009: £3.2 billion).

Key infrastructure projects for Morgan Sindall include the £235 million Crossrail Whitechapel and Liverpool Street Station tunnels contract which is being delivered as part of the BBMV joint venture. The project covers the construction of all station tunnels and associated works and forms an integral part of the wider Crossrail scheme. Work is expected to take around five years to complete.

The company is also carrying out a £7 million redevelopment project at Edinburgh Waverley Station. The works will involve rebuilding Waverley Steps, installing escalators and lifts, and covering the station’s entrance with a steel and glass canopy.

“Last year saw the formation of the enlarged Morgan Sindall business which brought together our design, construction and infrastructure services expertise,” says Graham Shennan, managing director of Morgan Sindall plc. “This move places the company in an even stronger position to take advantage of emerging opportunities across a range of market sectors. Looking ahead, we remain committed to delivering outstanding quality on each of our projects, ensuring the highest levels of customer satisfaction whilst providing a relentless focus on safety.”

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