Morgan Sindall maintains its 2014 full year dividend

DividendMax Ltd.

Morgan Sindall maintains its 2014 full year dividend

Group highlights:

Group result adversely impacted by a small number of construction contracts in Construction & Infrastructure, with Group adjusted operating profit down 14%

Significant improvement in Urban Regeneration with operating profit of £10.0m (FY 2013: £1.0m) supporting the Group's long-term regeneration strategy 

Continuing strong momentum in Fit Out, with operating profit up 38% on revenue 19% higher. Positioned well for further growth with order book up 70%

Construction & Infrastructure margin down to 0.3% (FY 2013: 1.0%), impacted by the performance of a small number of construction contracts primarily in London and the South

Affordable Housing and Urban Regeneration well-placed to benefit from strong market positions in regeneration, with Group regeneration & development pipeline up 6%

Higher quality Group order book, up 11% to £2.7bn

Average net debt for the year of £9m and year-end cash of £56m. Significant investment in Urban Regeneration and the regeneration activities of Affordable Housing planned in 2015 to support profits in 2016 and beyond

Total dividend of 27.0p per share, level with last year (FY 2013: 27.0p) 

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