Strong results for Morgan Sindall as profits rise

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Morgan Sindall Group, the construction and regeneration group which recently opened a new office on Nottingham Business Park due to a growing workload in the region, has reported strong half year results.

Adjusted operating profit is up 28% to £31.9m on revenue of £1.423bn, a 9% increase on the previous half year.

The Group is confident of a strong performance for the second half of 2018.

Morgan Sindall Chief Executive, John Morgan, said: “I am pleased to report another strong set of results, which demonstrate the considerable operational and strategic progress made across the Group.

“Fit Out and Construction & Infrastructure have both continued to deliver margin and profit growth, which has been complemented by a good performance from Urban Regeneration. There remain a significant number of opportunities in regeneration and our strong balance sheet and cash position leave us well-placed to invest further in this key strategic area.

“Based upon its current trading patterns and order book visibility, the second half outlook for Fit Out is very positive and as a result of this, the Group is on track to deliver a result for the year which is slightly ahead of its previous expectations.”