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Value:
Up 8,070.48
Change Today:
39.09

Morgan Sindall trades 'substantially ahead' of pre-Covid levels in H1

By Iain Gilbert

Date: Wednesday 04 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Construction and regeneration firm Morgan Sindall said on Wednesday that both interim profits and revenues had grown double-digits in the six months ended 30 June.
Morgan Sindall posted a 14% year-on-year increase in first-half revenues to 1.55bn, while pre-tax profits surged 238% to 53.1m.

Adjusted earnings per share were up 240% at 93.1p and Morgan Sindall's interim dividend was hiked 43% to 30.0p.

When compared to 2019's pre-coronavirus first trading half, revenues were 10% higher and adjusted pre-tax profits were 46% stronger.

Net cash surged to 337.0m from 146.0m a year earlier and 114.0m in 2019, while average daily net cash "increased significantly" to 294.0m, up from 153.0m in 2020.

Chief executive John Morgan said: "We've had a very strong first half in which we've upgraded our profit guidance three times. We continue to make significant operational and strategic progress across the group. With such positive momentum across all our activities, I am excited by the opportunities ahead.

"Today's results, combined with the current visibility for the rest of the year, gives us every confidence of another strong performance by the group in the second half."

As of 0810 BST, Morgan Sindall shares were up 0.51% at 2,452.50p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Data

Price 8,070.48
Change Today 39.09
21-Sep-21 Close 8,070.48

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