Morgan Sindall Share Discussion Threads

[shano2] 09/11/2009 14:46

8:59 am, November 9, 2009
Muse makes £3.9m profit in first year under Morgan Sindall
By Simon Binns


Salford Quays-based Muse Developments made a pre-tax profit of £3.9m in its first full year of trading since it was acquired by construction firm Morgan Sindall in July 2007.

Muse also posted a turnover of £83.6m for the year to December 31, 2008. In the six months to December 31, 2007, it made a pre-tax profit of £3.9m on a turnover of £34m, and had net assets of £22.4m.

The firm completed 700,000 sq ft of projects during 2008 and has a development pipeline worth around £1.3m.

Muse, the former AMEC Developments Ltd, received outline planning consent for its £300m Waterdale Civic and Cultural Quarter scheme in Doncaster town centre in October, which will see the company redevelop 25 acres of brownfield land to include new civic offices, a council chamber, a performance venue, a library, retail space, offices and housing, as well as a public square.

It also has plans submitted for large schemes in Blackpool, Tameside and Larkhall in Scotland.

[shano2] 29/10/2009 19:24

Morgan Sindall beats Balfour Beatty to £390m Hull BSF

28 October, 2009 | By Nick Whitten

A Morgan Sindall led consortium is understood to have won the £390 million Hull Building Schools for the Future contract.

Construction News has learned that the Esteem bid, made up of Morgan Sindall, Robertson Capital Projects and Sewell Group, has beaten Balfour Beatty to win the 15 year project.

A source close to the bidders said it came down to the "finest of margins".

A third bidder, led by Vinci, withdrew from the running shortly after the shortlist was announced last December.

Hull's BSF investment programme includes:

* three brand new academies
* one trust school
* one Roman Catholic school
* one all boys school
* one all girls school
* six learning centres (schools) with specialists areas such as languages, sport, and technology across the city
* a complete overhaul of the information and communications technology (ICT) facilities at all schools and units

Hull City Council had previously said it expects to have a preferred bidder in place by the end of November. Work is expected to start in March 2009.

[shano2] 24/10/2009 20:05

Panmure gave a buy recommendation yesterday. (23.10.09) - From TDW Co research.

[sruthan] 22/10/2009 09:51

why the sudden drop? this looked as if it was supported at £6 and trading between that and £7. OFT fine wasn't that big and it's (1 month) old news now.

[shano2] 09/10/2009 10:08

On the way back to £7?

[shano2] 07/10/2009 11:57

Tuffbet - any chance of adding some charts to the header.
Thanks

[davidwilkin] 05/10/2009 20:57

its ok alter ego, im just frustrated with this, its been very easy to make money lately but i can't get it right with this , it looks fundamentally cheap but its driving me crackers from a trading point of view.

[alter ego] 04/10/2009 15:18

davidwilkin - what a well argued piece of analysis. I just wish every contributer to these boards was able to so incisely sum up the attractions or detractions of investing in a particular company. I must learn your technique so that I may become rich.

[davidwilkin] 30/9/2009 13:36

well i wish it bloody well would - frustrating or what ??

[milton rooms] 29/9/2009 19:42

The chart looks ready to pop!

[lizafl] 22/9/2009 10:08

Has been fined by the OFT. Here's an extract from the statement by MGNS:

The Company can confirm that one of its subsidiaries, Morgan Ashurst plc (formerly called Bluestone plc) has been named as one of the 103 companies found to have infringed Competition law by engaging in cover pricing in respect of three tenders that occurred between 2004 and 2006. The Company was not alleged or found to have made or received any compensatory payments in relation to the cover pricing.


The Company has received a fine of £286,593, which takes into account the reduction granted by the OFT for the cooperation given to the investigation by Morgan Ashurst under the OFT's leniency policy.

[explorer88] 10/9/2009 12:19

sold earlier this week at 699p. imho, better opportunities elsewhere for the moment.

[deadly] 26/8/2009 09:14

The rise continues without the dividend. The construction sector is recovering strongly and MGNS is one of the best in it.

[deadly] 25/8/2009 22:31

Goes XD tomorrow for 12p. With this good run recently, will be interesting to see if it drops back at all. It's still undervalued.

[mf10] 14/8/2009 11:43

Another big buy of £730,000. Seems trading is going on outside the book so not showing on L2. Someone is buying up stock today.

[mf10] 14/8/2009 10:13

It does seem to bounce around like crazy in terms of price.
Someone purchsaed £500,000 worth at 20p a share this morning then a load of sells went through and the price dropped right back.
I wonder if it will manage to go up from 630p where it seemed to be stuck before now that it's had an upgrade to 700p.
Who knows. Seems to have enough interest at the moment. I don't understand all the sells as surely they must have lost money. Seems like people were waiting to ditch after the drop and are accepting losses right when the price has started to move up again.
I can't make anything out of L2 on this one as the price spreads are large and the orders tiny compared to mainstream stocks. This is a FTSE 250 share!

[afiaaktar] 14/8/2009 09:57

The relative illiquidity of the share means that a sale like that mentioned above results in an exaggerated fall in the share price (in this case good news as I was able to buy a few at 590p !!). It is a very similar situation at PayPoint.
In situations like this level 2 is a Godsend as you can usually work out at which point there will be the rebound.
In the case of MGNS I hope and expect the share price to move forward now.

[mf10] 14/8/2009 09:10

Price and volume seem to be moving at last after the slump which I can't find a reason for except a small sale by one of the institutional investors a couple of days ago.

[jadeticl] 10/8/2009 16:54

I have just carried out an interesting exercise--looked back on this thread to July 2008. I noted that many were concerned that EK was shorting this stock down to £1, and that several others were in the range from that figure to £2. I note as well that EK was shorting Barrats at 60p--said there was no value in that company. I hope he put huge sums where his mouth was.

Me? I was not fool enough to sell MGNS, and still enjoy the divi.

It is surprising to see how confidently some folk make predictions that in hind sight are seen to be absolute ribbish.

[riskblue] 10/8/2009 08:29

Interims pretty much in line with expectations. No surprises and good forward looking position.

[afiaaktar] 10/8/2009 08:23

Interims out this morning:

Group Highlights


* Solid results, in line with management's expectations, despite challenging
market conditions
* Improved performance and contribution from Construction and Infrastructure
Services divisions, bringing further balance to the Group
* Financially robust, with strong net cash position and renewed banking facilities
* Well positioned to benefit from opportunities the market will present



John Morgan, Executive Chairman, commented:


"While the construction industry will face challenging trading conditions in the
short term, we are in good shape and will emerge from the downturn a much
stronger business. Operationally and financially we are well set to take
advantage of the opportunities for further growth that will arise in our chosen
markets.


"We are confident of meeting our expectations for 2009."

[deadly] 02/7/2009 10:30

Solid trading statement but negative market reaction. Seems good value from here.

[riskblue] 23/6/2009 17:30

Looks as though Standard life are reducing their position. The question is how far?

[riskblue] 19/6/2009 14:02

Well - I meant upwards, but as you say - perhaps not. It can be a bit volatile.