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MGNS Morgan Sindall Group Plc

-10.00 (-0.5%)
Last Updated: 08:21:57
Delayed by 15 minutes

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Announcement Date Type Currency Amount Ex-Dividend Date Record Date Payment
02/8/2023 Dividend income or Cash Dividend GBP 0.36 05/10/2023 06/10/2023 26/10/2023
23/2/2023 Dividend income or Cash Dividend GBP 0.68 27/4/2023 28/4/2023 18/5/2023
04/8/2022 Dividend income or Cash Dividend GBP 0.33 06/10/2022 07/10/2022 26/10/2022
24/2/2022 Dividend income or Cash Dividend GBP 0.62 28/4/2022 29/4/2022 18/5/2022
04/8/2021 Dividend income or Cash Dividend GBP 0.30 07/10/2021 08/10/2021 26/10/2021
25/2/2021 Dividend income or Cash Dividend GBP 0.40 29/4/2021 30/4/2021 19/5/2021
04/11/2020 Dividend income or Cash Dividend GBP 0.21 12/11/2020 13/11/2020 08/12/2020
20/2/2020 Dividend income or Cash Dividend GBP 0.00 23/4/2020 24/4/2020 19/5/2020
07/8/2019 Dividend income or Cash Dividend GBP 0.21 10/10/2019 11/10/2019 28/10/2019
21/2/2019 Dividend income or Cash Dividend GBP 0.34 25/4/2019 26/4/2019 20/5/2019
08/8/2018 Dividend income or Cash Dividend GBP 0.19 11/10/2018 12/10/2018 29/10/2018
Dividends data is taken only from official company reports.

Top Dividend Posts

Top Posts
Posted at 15/9/2023 19:55 by cruelladeville
True. MGNS still cheap though for a debt free high quality business with a growing order book? Bought in a few months ago at a shade under 1400p so I'm quite happy.
Posted at 12/9/2023 14:48 by eigthwonder
It helps that the founder still has his name on the company and most of his wealth tied up in it - he'll try very hard to maintain and grow that dividend
Posted at 02/8/2023 22:31 by master rsi
1912p -12p / Morgan Sindall hails record results as revenue, profit and orders jump
(Alliance News) - Morgan Sindall Group PLC on Wednesday hailed a record first-half as it reported strong growth in revenue, profit and orders.

The London-based construction and regeneration company said revenue in the half-year to June 30 climbed 14% to GBP1.94 billion from GBP1.70 billion the year before. Pretax profit rose 8% to GBP58.0 million from GBP53.7 million and earnings per share advanced 6% to 100 pence from 94.3p.

The order book of GBP9.1 billion at the year-end was 7% higher than GBP8.5 billion last year and the strong financial performance saw shareholders rewarded with a 9.1% increase in the dividend to 36 pence from 33p.

Chief Executive John Morgan said: "We've had a record first half of the year, notably from our Fit Out business which has delivered another outstanding performance in the period, demonstrating the high quality of this business."

"Although the wider economic backdrop remains challenging, conditions have generally eased across many of our markets as the year has progressed," Morgan said.

The firm, which increased expectations for the full year in June, said there had been no change to forecasts since then and it remains confident of delivering another record performance.

The company noted an excellent performance from Fit Out where operating profit soared 43% to GBP30.4 million from GBP21.2 million. Medium-term targets have been significantly upgraded to reflect market opportunities and the high quality of business, the company said.

Construction delivered good revenue growth, up 20% to GBP470 million, with margin in its target range at 2.6%. Infrastructure posted a strong performance with revenue up 15% to GBP428 million at an operating margin of 3.7%.

But cost pressures and operational challenges in Property Services drove a trading loss of GBP4.1 million compared to an operating profit of GBP2.5 million a year ago.
Posted at 25/7/2023 14:09 by cruelladeville
Nice to see a decent run in MGNS shares with the wider market going nowhere. 2000p here soon?
Posted at 14/7/2023 12:44 by galeforce1
It was good to see that surprise trading update at the end of June, telling us that Fit Out is making much more money than expected.

MGNS were expecting Fit Out to make about £44m a year. Presumably they now expect Fit Out to make more like £60m in 2023 and are seeing a much bigger order book.

The problem division at the moment must be housebuilding. As part of Partnership Housing and Urban Regeneration I think MGNS build about 2000 houses per year, mostly at the bottom end of the market. Sales activity must have stalled and prices weakened. I'm not sure how much housebuilding contributes to the bottom line.

Rising interest rates must also mean that the cash on the balance sheet is producing a useful yield. £300m at 2.5% would be £7.5m.
Posted at 15/5/2023 14:44 by cruelladeville
Very nice dividend windfall to look forward to this week.
Posted at 09/5/2023 09:55 by brucie5
Thorpematt, dividend aside don't you see better value & upside in COST? What do there's think.
Mgns clearly a good company notwithstanding.
Posted at 23/2/2023 12:53 by master rsi
Morgan Sindall - MGNS 1,770p +136p (8.32%) / profit hit by fire safety charge; confident for 2023
(Alliance News) - Morgan Sindall Group PLC on Thursday said profit fell in 2022 due to exceptional charges, but it expects to deliver 2023 results in line with its expectations.

The London-based construction company reported pretax profit was GBP85.3 million last year, down 32% from GBP126.2 million in 2021. The company said the fall was due to an exceptional building safety charge of GBP48.9 million.

The charge, which was in line Morgan Sindall's guidance back in November of GBP40.0 million to GBP50.0 million, relates to a recent UK building safety act. The new rules require the removal of flammable cladding from tall buildings and were put in place in response to the fatal Grenfell Tower fire in London in 2017.

Adjusted pretax profit was GBP136.2 million, up 6.6% from GBP127.7 million in 2021.

Revenue was GBP3.61 billion in 2022, increasing 12% from GBP3.21 billion in 2021. Morgan Sindall said significant strategic and operation progress was made in spite of market headwinds.

Looking into 2023, the company said it has a "substantial" order book, with a secured workload of GBP8.5 billion. This is down 2% from a year ago.

The company declared a final dividend of 68 pence per share, bringing the total to 101.0p, up 9.8% from 92.0p in 2021.

Chief Executive Officer John Morgan said: "While there remains significant macroeconomic uncertainty, Morgan Sindall is a strong and agile business which is well-placed to overcome the challenges of the coming year and also well-positioned to take advantage of the opportunities that arise in this type of environment.

"There are early signs that inflation, particularly labour inflation, has plateaued and is starting to fall in some areas. We look forward with optimism and although it is still early in the year, we're well-positioned to deliver a result for 2023 which is in line with our current expectations."

Morgan Sindall shares were up 7.2% trading at 1,752.00p per share on Thursday morning in London.
Posted at 11/2/2023 10:12 by cruelladeville
A great high profile job for Morgan Sindall building the new stand at Wrexham football club. Given the televised series, the highly visible publicity of the club won't do MGNS any harm at all.
Posted at 15/8/2022 08:54 by galeforce1
Note from Numis, following MGNS's H1 2022 results. The interesting bit is the last paragraph which explains the costs & complexities of the 'Developer Pledge'. MGNS previously signed this for the Partnership Housing Division, and stated the costs would be 'non-material'. Now it has been obliged to sign for the Urban Regeneration Division and costs are undoubtedly 'material'. £7m charge in H1. Looks like a further £40-£50m has to be paid up-front to the government, but much of this should later be recovered from contractors.

Morgan Sindall (Buy, TP: 3,000p) Upgrade driven by Fit Out momentum

Morgan Sindall has reported record H1 profit, delivering further growth on H1-21 which was itself a step change in performance. For context, EBIT is +52% vs H1-19. This is despite a very challenging operating environment in which cost inflation has impacted some project margins. Due to continuing strong momentum in Fit Out, we upgrade current year PBT +6%. As we argued in our recent longer note, we believe the division is benefiting from medium-term drivers of changing working practices and increased EPC requirements for commercial premises. With an orderbook equivalent to >2.5x revs and continued organic momentum across the divisions, we estimate medium-term targets represent c.40% further profit growth. We reiterate our BUY recommendation and £30 target price.
Download Upgrade driven by Fit Out momentum
(4 pages)

Group. H1 revs +9% y/y to £1.7bn with EBIT +4% to £56.9m at a margin -10bp to 3.4%. Market conditions were a headwind; the impact on total build cost and increased strain on the supply chain is expected to continue in H2. Demand remained resilient with the orderbook +2% y/y to £8.5bn. We upgrade NSe FY22 PBT +6% to £134m; we retain FY23 at this stage. The interim divi is +10% y/y to 33p and we now expect a full year divi of 100p (5.1% yield). H1 average daily net cash of £264m remains very high albeit -£30m y/y, predominantly due to investment in Partnership Housing. We now forecast FY22 av. net cash of £250m.
Divisional. Construction & Infra margin increased further to 3.2%; Infra volumes were lower y/y as expected due to timing, offset by growth in Construction (where preferred bidder work grew). Fit Out EBIT +10% y/y, and we now expect £50m for FY22; it maintained its high orderbook. Property Services delivered growth albeit still impacted by delays to decision-making. Partnership Housing EBIT +15% y/y with the margin +40bp to 4.9% and capital employed is now at £179m; av. site size has grown 39% with the number of sites +2%. Urban Regen adj. LTM ROCE was 20%.

Developer Pledge. As previously announced, Partnership Housing signed the developer Pledge and the provisions are not expected to be material to group. Urban Regen has taken a £7m H1 provision in relation to the extended liability period, and in July received a letter from UK Govt requesting it to commit to the Pledge as a mixed-use developer. It has contractual coverage and expects to recover any costs, but its initial assessment is this would involve a charge of £40-50m, before seeking recoveries. This has been recognised as a contingent liability in the H1 accounts.
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