Morgan Sindall Group have announced their proposed final dividend has increased by 10% to 68.0p per share (FY 2021: 62.0p), resulting in a total dividend for the year of 101.0p per share (FY 2021: 92.0p), also an increase of 10%. This represents dividend cover of 2.36x and reflects the result for the year, the strong balance sheet and the Board's confidence in the long-term prospects of the Group.
Other financial highlights include:
o Revenue up 12% to £3.6bn
o Adjusted profit before tax up 7% to £136.2m
Continued balance sheet strength
o Net cash of £355m (FY 2021: £358m)
o Average daily net cash of £256m (FY 2021: £291m)
High quality and substantial order book with secured workload of £8.5bn
o 2% lower than prior year end
Total dividend up 10% to 101p per share
Exceptional charge for Building Safety in line with previous guidance of £48.9m
Continued leadership in sustainability
o MSCI 'AAA' rating retained for Group's ESG performance
o CDP 'A' rating retained for Group's leadership on climate change
