Construction group Morgan Sindall today said it was in a strong position to buck a downturn in the economy.
Reporting record first half results for the year, the company claimed its order book was strong and potential work showed no signs of abating. In the six months to 30 June, Morgan Sindall saw a 75% increase in pre-tax profits to £10.1m on turnover of £407.3m, compared to £288.8m for the same period last year.
It raised its interim dividend by a third to 4p and executive chairman John Morgan said: “With record results and two acquisitions broadening our offering Morgan Sindall is in good shape.”
Morgan Sindall bought Miller Civil Engineering Services for £20m and Carillion Housing for £6.25m in May. He added: “Whilst we cannot be immune to the economy we operate within, our order book is strong, and we have strength in those areas where government expenditure is growing rapidly.”
EGi News 14/08/01
