Leading infrastructure specialist Morgan Sindall has contributed to a solid set of half year results released today by its parent company, construction and regeneration group Morgan Sindall Group plc.
Morgan Sindall Group, which operates through five divisions of construction and infrastructure, affordable housing, fit out, urban regeneration and investments, has today announced solid results in line with expectations for the six months to 30 June 2011.
The Group’s profit before tax, amortisation of intangible assets and non-recurring items was £19.5 million (2010: £23.1 million) on revenue of £1.09 billion (2010: £982 million).
The Group also reports a strong order book of £3.5 billion supplemented by a £1.8 billion pipeline of regeneration schemes.
A further £0.8 billion of these schemes are at preferred bidder stage.
Adjusted earnings per share for the period were 35.1p (2010: 42.0p). The Board has declared a maintained interim dividend of 12.0p (2010: 12.0p).
In April, Morgan Sindall was awarded the C350 Pudding Mill Lane contract, worth in the region of £50 million, to link the new Crossrail tunnels to the Network Rail infrastructure in the London Borough of Newham.
The work involves the construction of a tunnel portal and a new elevated Docklands Light Railway (DLR) station at Pudding Mill Lane as the Crossrail route runs through the existing station.
In the South East, as part of a joint venture with Colas Rail, Morgan Sindall is delivering an £18.1 million scheme to design and construct civil and railway works to allow extension of train lengths at 34 locations on Sussex and Kent suburban routes into London.
Also with Colas Rail, and as part of the Multi Asset Framework Agreement (MAFA), the company has been chosen for a £6.5 million project to design and construct a new island platform at Cambridge Railway Station which will increase train capacity.
“Morgan Sindall continues to provide the highest levels of service to our customers, ensuring we support them in what is currently a challenging environment,” says Graham Shennan, managing director of Morgan Sindall.
“In addition, we remain committed to maintaining strong relationships with our supply chain and joint venture partners as this underpins the outstanding quality of our projects.
“Looking ahead, we are well positioned to take advantage of emerging opportunities across a range of existing and emerging market sectors.”
