Affordable housing arm Lovell and fit-out firm Overbury both deliver record profits as group turnover rises 6%.
Contractor Morgan Sindall today announced results showing a 23% rise in pre-tax profits for the year ending 31 December 2005.
The firm, which is a holding company for a host of operations including contractor Bluestone, fit-out firm Overbury and affordable housing provider Lovell.
Morgan Sindall said that turnover at the company had risen 6% from £1.22bn last year to £1.3bn this year, with shareholders improving their earnings per share by 23% from 57p to 70p. The group paid out a dividend of 25p per share, up 35% from last year's 18.5p.
Both fit out and affordable housing sections posted record operating profits of £16.4m and £18.7m respectively.
John Morgan, executive chairman, commented: "We entered 2005 in good shape. We are now in even better shape and are excited by our prospects for the coming year."
