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Morgan Sindall increases its 2018 interim dividend by 19%

Investment Tools Ltd.
Morgan Sindall increases its 2018 interim dividend by 19%

Morgan Sindall 2018 interim results

HY 2018 summary:

Strong results reflecting strategic and operational progress across the Group

o Revenue up 9%

o Adjusted profit before tax up 27% to £30.2m

Average daily net cash of £113m; period end net cash of £97m

Divisional highlights

o Excellent performance from Fit Out; operating profit up 29% to £18.8m

o Significant margin improvement in Construction & Infrastructure; operating margin up to 1.7% (HY 2017: 1.1%) reflecting focus on quality of earnings

o Regeneration: Good performance from Urban Regeneration with profit up to £6.1m (HY 2017: £2.0m), with strong and visible development pipeline. Partnership Housing profit lower at £4.6m (HY 2017: £5.5m), impacted by construction cost overruns  

o Property Services profit of £0.5m, reflecting the benefit of increased volumes. Loss in Investments of £1.1m due to scheme delays, but growing regeneration & development pipeline

Interim dividend up 19% to 19p per share

Companies mentioned

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