Morgan Sindall Group Plc has proposed an interim dividend of 33.0p per share, an increase of 10% on the prior year interim dividend. This will be paid on 26 October 2022 to shareholders on the register at 7 October 2022. The ex-dividend date will be 6 October 2022.
Other Financial Highlights:
Record performance for the Group despite market headwinds
o Revenue up 9% to £1.7bn
o Adjusted profit before tax up 3% to £54.6m
o Full year performance expected to be slightly above previous expectations
Continued balance sheet strength
o Net cash of £274m (HY 2021: £337m)
o Average daily net cash of £264m (HY 2021: £294m)
High quality order book with secured workload of £8.5bn
o Up 2% on prior year (HY 2021: £8.3bn); down 1% on year end (FY 2021: £8.6bn)
Interim dividend up 10% to 33.0p per share (HY 2021: 30.0p)
Divisional highlights
o Further margin improvement in Construction & Infrastructure; operating margin up to 3.2% (HY 2021: 2.9%), with operating profit up 7% to £24.1m (HY 2021: £22.6m)
o Another excellent performance from Fit Out; operating profit up 10% to £21.2m (HY 2021: £19.3m)
o Property Services' operating profit up 4% to £2.5m (HY 2021: £2.4m)
o Further good progress in Partnership Housing with operating profit up 15% to £13.9m (HY 2021: £12.1m) and operating margin up to 4.9% (HY 2021: 4.5%)
o Long-term regeneration schemes progressing in Urban Regeneration with operating profit of £7.3m (HY 2021: £8.7m)
