Morgan Sindall Reports Record Profits

Morgan Sindall ,the construction and regeneration group, has today announced another set of record results for the year ended 31 December 2008.

Profit before tax and amortisation has increased 15 per cent to £71.4 million (2007: £62.1 million) on revenue of £2,548 million up 20 per cent from £2,115 million in 2007. Adjusted earnings per share grew by 22 per cent to 127.8p (2007: 104.5p), with the total dividend increased by 11 per cent from 38p to 42p. The Group’s forward order book currently stands at £3.7 billion (2007: £4.3 billion).

"2008 has been an encouraging year for Morgan Sindall. We have delivered a record set of results in line with our expectations,” says John Morgan, Morgan Sindall’s executive chairman. “Our construction and infrastructure services divisions provided significantly increased profit contributions, which brings increased balance and resilience to our business, whilst our financial position remains robust.

“We continue to expect market conditions in 2009 to remain challenging, but we are well placed to emerge from these times as an even stronger business.”