Fit out and affordable housing drive profit upwards as order book hits £3.3bn
Contractor Morgan Sindall has announced a 14% rise in pre-tax profits to £47.6m for its preliminary results for the year to 31 December 2006.
In record preliminary results, the company reported turnover of £1.497bn, up 15% from the 2005 figure of £1.297bn. The group also reported a forward order book of £3.3bn.
The group maintained margins at 3.2%, with its results boosted by a record operating profit of £22.6m in its fit-out division. Profits in the infrastructure services division were hit slightly by restructuring costs and the mobilisation of services, although turnover rose to £324m from £248m.
Executive chairman John Morgan said: “2006 has predominantly been driven by the excellent performance of both fit out and affordable housing. At the same time we have had success at construction and in building the order book in infrastructure services. We are confident that the foundations have been laid for 2007 to be another successful year.”