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For the six months to 30^th June 2017 Morgan Sindall made pre-tax profit of 拢23.1m (2016 H1: 拢15.4m) on revenue up 14% to 拢1,307m (2016 H1: 拢1,148m).

The company鈥檚 Construction & Infrastructure division has improved its profit margin to 1.1% this year from just 0.5% last year by better selection of work to take on.

This resulted in operating profit of 拢7.6m for Construction & Infrastructure, up 138%, on revenue of 拢694m, up 13%.听 Fit Out has been doing particularly well, with revenue of 拢339m up 15% and operating margin hitting 4.3% (2016 H1: 3.9%). Two-thirds of the company鈥檚 fit-out work is in London.

Chief executive John Morgan said: 鈥淭his is a strong set of results, driven by another period of margin and profit growth in Fit Out and further progress on margin recovery in Construction & Infrastructure.听 Reflecting our overall profit performance, our strong balance sheet and cash performance, and our confidence in the quality of our business, we are increasing the interim dividend by 23% to 16p per share.

鈥淲ith the current trading patterns in Fit Out and the forward visibility provided by the size and quality of its order book, together with further margin improvement in Construction & Infrastructure and an increase in scheme completions in Partnership Housing and Urban Regeneration, we are confident of another strong performance by the group in the second half."

Headline results by business segment

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