{"id":3248,"date":"2019-02-21T07:36:21","date_gmt":"2019-02-21T07:36:21","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=3248"},"modified":"2019-02-21T07:36:21","modified_gmt":"2019-02-21T07:36:21","slug":"morgan-sindall-construction-margin-tops-2","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/morgan-sindall-construction-margin-tops-2\/","title":{"rendered":"Morgan Sindall construction margin tops 2%"},"content":{"rendered":"

Morgan Sindall has restored margins to 2% at its mainstream construction business after another year of strong growth at the group.<\/span><\/p>\n

Pre-tax profit at Morgan Sindall Group jumped by a quarter to \u00a381m with construction, urban regeneration and fit-out businesses leading the growth.<\/p>\n

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Revenue for the year was up 6% to \u00a33bn although a continued focus on contract selectivity saw the forward order book slide by 7% to \u00a33.6bn.<\/p>\n

Chief executive John Morgan said:\u00a0<\/span>“2018 has been another year of strong growth for the group.<\/span><\/p>\n

“Our strong balance sheet, with net cash throughout the year and a business which continues to generate positive operating cash flow is a significant differentiator for us.<\/span><\/p>\n

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“This provides us with the flexibility to continue being highly selective with bidding in our construction activities while also allowing us to invest in our regeneration activities.<\/span><\/p>\n

He added: “Looking ahead to 2019, we are confident of another good year of progress and the group is in a strong position to deliver on its expectations.”<\/span><\/p>\n

At the main divisions, the ongoing focus on contract selectivity and risk management enabled the Construction & Infrastructure business to deliver an operating margin of 2%, up from 1.5% on the prior year and an operating profit of \u00a327m, up nearly a third.<\/span><\/p>\n

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Fit-out had another good year with revenue growth of 13% and an operating profit of \u00a343.8m at a margin of 5.3%. <\/span><\/p>\n

Property Services benefitted from successful contract mobilisation and operational improvements in delivering an adjusted operating profit of \u00a32.0m.<\/span><\/p>\n

Among Morgan Sindall’s regeneration divisions,\u00a0<\/span>Ur<\/span>ban Regeneration produced a very strong performance, doubling\u00a0operating profit to \u00a319.6m.<\/span><\/p>\n

But Partnership Housing\u00a0<\/span>was impacted by operational issues in contracting, which\u00a0<\/span>resulted in operating profit lower at \u00a312.2m (FY 2017: \u00a314.1m). <\/span><\/p>\n

Although\u00a0<\/span>Investments made further progress with developing its portfolio of property partnerships, slippage in some of its existing schemes led to a loss of \u00a32.4m in the year.<\/span>\u00a0<\/span><\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/2XfSxQj<\/p>\n","protected":false},"excerpt":{"rendered":"

Morgan Sindall has restored margins to 2% at its mainstream construction business after another year of strong growth at the group. Pre-tax profit at Morgan Sindall Group jumped by a quarter to \u00a381m with construction, urban regeneration and fit-out businesses leading the growth. Revenue for the year was up 6% to \u00a33bn although a continued […]<\/p>\n","protected":false},"author":1,"featured_media":151,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-3248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/3248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=3248"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/3248\/revisions"}],"predecessor-version":[{"id":3249,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/3248\/revisions\/3249"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/155"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=3248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=3248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=3248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}