Morgan Sindall announces interim dividend up 11% to 21p per share

DividendMax Ltd.

Morgan Sindall announces interim dividend up 11% to 21p per share

Morgan Sindall have announced an increase in their interim dividend of 11% to 21p per share from 19.0p. 

Other financial highlights include:

Strong first half performance reflecting significant strategic and operational progress made across the Group

o Adjusted profit before tax up 20% to £36.3m

Continued balance sheet strength

o Average daily net cash of £123m; period end net cash of £114m

High quality total future workload

o Secured order book up 19% to £4.2bn; regeneration & development pipeline up 6% to £3.3bn 

Divisional highlights

o Further margin improvement in Construction & Infrastructure; operating margin up to 2.0% (HY 2018: 1.7%), with operating profit up 23% to £13.9m 

o Fit Out performance as expected; operating profit lower at £16.4m (HY 2018: £18.8m), but operating margin still strong at 4.0% 

o Volume and efficiency gains in Property Services; operating margin increased to 2.9% (HY 2018: 1.0%) and operating profit of £1.6m (HY 2018: £0.5m)

o Operational improvements in Partnership Housing; operating profit up 39% to £6.4m (HY 2018: £4.6m) 

o Good performance from Urban Regeneration; operating profit up 36% to £8.3m 

(HY 2018: £6.1m) with strong and visible pipeline of developments

o Successful period for Investments in delivering long-term strategic partnerships and creating potential streams of future construction work for the Group

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