Construction and regeneration company Morgan Sindall hit its highest share price ever today, after telling shareholders that its half-year pre-tax profit is set to be more than three times that of a year ago.
The company said its full-year results are likely to be “significantly ahead of its previous expectations” and that the half-year results next month will show a profit of £53m, up from £15.7m for the first half of 2020.
Its stock finished the day at 2,380p, its highest since the company’s float in the 1990s. At 12.5%, its rise over the day made it the best performing stock in the FTSE 100.
The day’s biggest large-cap real estate falls came from Hammerson, which was down by 4.8% at 35.93p, and Persimmon, down by 4.3% to 2,881p, a low of more than four months.
The FTSE 100 was down by 0.4% at 6,968, with the FTSE 250 up by 0.6% at 22,677.
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