Contractor reports £21.3m interim profit after strong performance in affordable housing and fit-out divisions
Contractor Morgan Sindall has achieved record interim results, driven by strong performances in fit out and affordable housing.
Morgan Sindall reported a pre-tax profit of £21.3m for the six months to 30 June 2006 compared with £18.2m in the same period last year, a rise of 17%. Turnover rose 9% to £674m across the same period.
The results were boosted by record profits of £10.2m in the group’s affordable housing division, and profit growth of 29% in the fit-out division - where profits also weighed in at £10.2m. Both divisions also achieved strong margin improvements.
John Morgan, executive chairman, said: “The group’s order book stands at a record £3.4bn and all the market sectors in which we operate are attractive at present. This offers exciting opportunities and provides a positive outlook for the group.”