Morgan Sindall Share Discussion Threads

[shano2] 25/2/2010 19:26

Anothwer good contract:

Morgan Sindall plc

25 February 2010



LOVELL AWARDED £30M MAINTENANCE CONTRACT BY GLOUCESTER CITY HOMES



Morgan Sindall plc, the construction and regeneration group, announces today that Lovell, its affordable housing business, has been chosen by Gloucester City Homes (GCH) for a five-year £30 million housing repairs and maintenance contract.



The deal will see Lovell provide a reactive repairs service and deliver planned maintenance programmes for GCH, which manages 5,000 homes for Gloucester City Council. Under the contract, Lovell will also continue to carry out GCH's Decent Homes programme, including the installation of new kitchens, bathrooms and central heating systems, electrical and rewiring work, and other improvements. The company will also carry out adaptations for disabled residents and refurbish void properties.



The contract commences in April 2010.



Paul Smith, Chief Executive of Morgan Sindall plc, comments:



"We are delighted to secure this new contract with GCH. It builds on the successful working partnership which has developed between GCH and Lovell from 2007, when work first commenced on GCH's Decent Homes programme. The five-year contract is testament to our experience and ability to deliver a high quality maintenance service for social housing. This is a significant win for Lovell and marks the continuing expansion of the business."



- Ends -

[mark1000] 25/2/2010 02:19

Milton - Make the most of the divi would not count on it going forward. Expect to see these shares under 5.00 in the next three months probably when they go ex div huge cut back on Government spend who ever wins the next election.

[chrisb1103] 23/2/2010 16:43

Yeah you're absolutely right, thanks for correcting.

[westcountryboy] 23/2/2010 13:30

Yield is actually 7.1% at 590p. Total dividend 42p.

[phillis] 23/2/2010 09:59

so many doubts about the public/construction sector that I feel this is only a yield play for some time to come

[chrisb1103] 23/2/2010 08:47

Yielding over 5.1% at this morning's price. And not as long to wait either.

Thought results were very steady myself and within market expectations. EPS at 93p compared to forecasts around 83p. Year end cash position of £118M. Strong forward order book £1.1BN. So.. am still hoping for upward movement here, still feel this should be around the 650 level. I see people are buying this morning, but in these markets will need to keep a close eye on things!

[the other kevin] 23/2/2010 08:42

In my view that's all you can say about these results. But don't let milton rooms on the other thread hear you say that, Phillis.

[phillis] 23/2/2010 08:20

Divi maintained at least

[milton rooms] 23/2/2010 07:47

Get real in these conditions good result and divi fantastic. Are you on this planet the other kevin?

[the other kevin] 23/2/2010 07:26

Dividend held is about the only good news

[chrisb1103] 18/2/2010 20:56

Chart finally turning up... this has to be heading up nicely from here?

[piedro] 17/2/2010 16:35

....appointed as one of the Delivery Partners ...
is the punchline

... Balfour Beaty gets the M60 / M62 part

9:08 am, February 17, 2010
Hard shoulder to be used on M60 and M62 to ease traffic jams
By James Chapelard
The Highways Agency has appointed Balfour Beauty to tackle congestion hotspots on the M60 and M62.
Balfour Beauty is one of four contractors to be awarded the work as part of £2bn contract to improve traffic flow on UK motorways.
A new traffic scheme will be put in place on the M60 hard shoulder between junction 8 and 12 and on the M62 between junctions 18 and 20 to the north of the city.
The scheme's implementation follows a pilot on the M42 in Warwickshire where congestion was reduced by using the hard shoulder at peak times.

[shano2] 17/2/2010 15:43

Another good contract:

Morgan Sindall PLC
Morgan Sindall JV £2bn motorw
RNS Number : 2730H
Morgan Sindall PLC
17 February 2010




Morgan Sindall plc



17 February 2010



Morgan Sindall JV selected for up to £2bn motorways framework

Morgan Sindall's infrastructure services business Morgan Est and joint venture partner BAM Nuttall have been appointed as one of the Delivery Partners to the Highways Agency's four-year, up to £2 billion National Major Projects Framework to deliver Managed Motorways across England.

The framework will deliver schemes to adapt motorway hard shoulders to accommodate extra traffic during peak periods; it is also expected to involve traffic management and other works including the construction of emergency refuge areas, installation of gantries, speed enforcement systems, motorway signs and CCTV monitoring.

The framework contract includes the delivery of hard shoulder running schemes on the M4 and M5 around Bristol; junctions 5-8 of the M6 around Birmingham (excluding part of phase two of the Birmingham Box) and junctions 32-35a of the M1 east of Sheffield. It will also include two schemes on the M62: junctions 18-20 in Manchester and junctions 25-30 from Bradford to Leeds as well as junctions 8-12 of the M60 around Manchester.

This appointment reinforces the good working relationship Morgan Est has with the Highways Agency. It will also provide them with vital systems installation and commissioning expertise which Morgan Est has developed from working in other sectors including rail and water.

Paul Smith, Chief Executive of Morgan Sindall plc, said:

"This is an important win for our Infrastructure Services division and builds on our relationship with the Highways Agency. Morgan Est has an excellent track record in delivering infrastructure projects of this type and we are very pleased to be working alongside BAM Nuttall. The award underlines our strength in the roads sector, where we are already delivering projects to modernise the motorway networks in the UK."

ENDS

[chrisb1103] 03/2/2010 19:33

Looking a bit firmer maybe? Earnings rns 23/02/10

[zcaprd7] 29/1/2010 16:02

Still a bit weak - I'd be tempted at £4.20 odd...

[shano2] 22/12/2009 10:27

RNS Number : 4239E
Morgan Sindall PLC
21 December 2009

?
Morgan Sindall plc


21st December 2009


Morgan Sindall led JV appointed preferred bidder for GBP417 million
Thames
Water tunnelling project


Morgan Sindall today announces that the MVB joint venture, comprising its
infrastructure services business Morgan Est, VINCI Construction Grands Projets
and Bachy Soletanche, has been appointed as preferred bidder to deliver the
GBP417 million Lee Tunnel for Thames Water.


Morgan Est has a 50 per cent shareholding in the JV, VINCI has 30 per cent and
Bachy 20 per cent.


The project involves the construction of a seven metre internal diameter
storage transfer tunnel, which is approximately 6,900 metres long, from Abbey
Mills Pumping Station to Beckton Sewage Treatment Works. Works include the
construction of two, 25 metre internal diameter shafts and one 20 metre shaft
(two at Beckton and one at Abbey Mills) and a 38 metre diameter off-line Tideway
Pumping Station Shaft.


Work will start in April 2010 and the tunnel will be complete by the end of 2014
in order to comply with the Urban Waste Water Treatment Directive set by the
European Union.


Paul Smith, Chief Executive of Morgan Sindall plc, said:


"This is a very important project for our infrastructure services division.
Being appointed preferred bidder demonstrates the strength and expertise that
Morgan Est has in tunnelling, an area where we have a market leading position.


"It further strengthens our relationship with Thames Water and we look forward
to starting work on the project in due course."

[typo56] 18/12/2009 17:19

The interest today was probably mostly down to the FTSE index changes which take effect on Monday. SmallCap and AllShare funds were probably picking up stock. In the closing auction about 0.85% of the company uncrossed, which is typical of this FTSE move.

I wouldn't be surprised to see it give up a bit of this gain next week.

[deadly] 18/12/2009 16:38

Bounce continuing against the depressed market. Takeover rumours? This stock is ridiculously cheap but doesn't explain the buying now.
And such a quiet board for such a good company.

[deadly] 15/12/2009 17:13

Lovely bounce these last two days, near 20%. Why? Linked with Mouchel? Has been a great trading stock this year with all that volatility.

[riskblue] 10/12/2009 12:08

I hadn't realised that MGNS were falling out of the FTSE 250 - that may also partly explain the recent pressure on the share as trackers have to unload their holdings.

[chrisb1103] 03/12/2009 21:17

Down with the majority of the construction sector of late but i'm thinking this has near bottomed out imo, price still not recovered from the extra push down by the nov 26th shock - but it will, and unjustly imo at near 1 yr lows it's surely due a decent bounce.

Solid group. investor presentation higlighted:

financially strong, cash positive
£100m of financing in place to mid 2012 if required
Minimal pension deficit
On track to meet management's 2009 expectations
Current order book £3.4bn (v £3.7bn at start of year)
Preferred bidder pipeline £900m: all added 2H09

[zcaprd7] 03/12/2009 12:32

Big drop, on my watch list - what was the recent low 410p?

[afiaaktar] 02/12/2009 10:04

There is an analyst presentation this afternoon.

[robcoo] 02/12/2009 08:18

Has anyone any idea what is causing tbe dramatic drop in the share price over the last few days?

[shano2] 10/11/2009 12:45

RNS Number : 2289C
Morgan Sindall PLC
10 November 2009

?
Morgan Sindall plc
10 November 2009




INTERIM MANAGEMENT STATEMENT


Morgan Sindall plc, the construction and regeneration group, announces today its
Interim Management Statement covering the period 1 July 2009 to 9 November 2009.


Morgan Sindall remains on track to achieve its expectations for the current year
despite the challenging market conditions with its position underpinned by a
quality order book at GBP3.4bn supplemented by a pipeline of GBP900m of projects
at preferred bidder stage.Our strategy remains one of developing market
leadership in all the sectors in which we operate.


Fit Out continues to perform well despite the tough market conditions, securing
projects across its broad sector spread. We expect the division's revenue for
2009 will reduce by more than a third compared with 2008 although we estimate
the overall market has fallen by a greater extent during the year. So we remain
of the view that the division has performed comparatively well in the current
trading environment. The improvement in the level of tendering activity which
we reported in August has continued with the forward order book being
consistent with the start of the year.


Construction is performing strongly although there is considerable uncertainty
surrounding future public spending commitments. Notwithstanding this uncertainty
we continue to experience robust demand. The division has been successful in the
second half of the year in securing key opportunities including
Basildon Sporting Village (GBP30m construction value), an assembly facility for
Airbus (GBP71m) a contract under the Liverpool BSF project (GBP37m) and a place
on the Construction Framework South West that will deliver GBP500m of projects
for 20 local authorities. In addition, as previously announced, the division has
been appointed as preferred bidder for the Tayside Mental Health PFI (GBP100m)
and the Hull BSF project (GBP200m) in which its sister division, Investments,
will take equity stakes. The division's forward order book is down in
comparison to the start of the year albeit this current position is expected to
improve once the division achieves financial close on the Hull BSF and the
Tayside Mental Health projects around the end of the year.


Infrastructure Services continues to trade positively, with the market for
infrastructure services remaining reasonably strong. In the second half of the
year the division has been successful in being appointed preferred bidder for a
utilities framework with Central Networks (valued at GBP500m over 10 years). The
division is also continuing to progress a number of other key tunnelling and
utilities opportunities. The division's order book remains in line with the
start of the year and we still expect this to increase as we approach the end of
the year.


Affordable Housing's refurbishment and new build social housing
contracting business has continued to perform well. In the second half of the
year the division has secured key opportunities including a major refurbishment
project for Three Oaks Homes (GBP24m) and a major redevelopment programme for
Atlantic Housing (GBP20m) as well as being selected as a preferred partner for a
GBP35m regeneration scheme in Skipton. The market has been supported by the
Government's Kickstart initiative and the division has initially secured GBP10m
of funding for five projects in the first wave and is seeking additional sums in
the second wave of funding of GBP500m to be allocated towards the end of the
year. The improvement in open market housing volumes has continued. The
division's forward order book has fallen slightly compared with the start of the
year. We expect demand for refurbishment and social housing to remain resilient
with the longer term outlook buoyed by the next round of social housing PFIs.


Urban Regeneration's market remains subdued though we still expect the division
to make a small contribution in 2009. The division continues to progress the
major regeneration schemes in which it has an interest and its longer term
development pipeline of GBP1.6bn remains healthy. Despite the difficult market
backdrop we are increasingly confident of the substantial longer term prospects
and value that the division can bring to the Group.


Whilst the Group's forward order book has fallen slightly to GBP3.4bn since 30
June 2009 this forward order book is supplemented by over GBP900m of projects at
preferred bidder stage. Given the Group's increased capability to deliver
projects of greater scale and complexity we expect this higher level of work at
preferred bidder stage to remain a more notable feature of our order pipeline in
the future.


Given the challenging market conditions, since the beginning of 2008 we have
realised annualised cost savings totalling GBP35m and each of our
divisions continues to particularly focus on cash management, cost reduction and
supply chain improvements, as well as responding to market growth opportunities
where they present themselves.


The Group remains financially robust with cash balances continuing to improve
into the second half of the year. With GBP100m of committed banking facilities
in place, there has been no significant change in the Group's financial position
since the publication of the Interim Report for the six months to 30 June 2009.


In summary, Morgan Sindall is on track to meet our expectations for 2009 and is
well placed to meet the challenges and opportunities we currently face. We
remain mindful of the challenges facing the sector in the longer term and
continue to shape our business accordingly.