Morgan Sindall

Construction group reports H1 profit growth

Morgan Sindall Group PLC has reported a 28% increase in adjusted operating profit to £31.9m in H1 2018, compared with the £24.9m reported in H1 2017.

The construction and regeneration group – which is the parent company of housebuilding firm Lovell – also reported an order book of £3.6bn.

The group said that it was confident of a strong performance in the second half of 2018.

John Morgan, chief executive at Morgan Sindall Group, said that he was pleased to report another strong set of results, which demonstrated the considerable operational and strategic progress made across the group.

“Fit out and construction and infrastructure have both continued to deliver margin and profit growth, which has been complemented by a good performance from urban regeneration.

“There remains 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.”

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