Morgan Sindall Share Discussion Threads

[gopher] 10/9/2010 17:23

JudyElliot - You may be right but would you want to re-tender given the risk of paying more now Connaught has departed - tendering is a lot of work for all parties; I expect most Councils will not want the hassle. Break clauses usually work both ways and MGNS may even be able to get rid of the underpriced contracts.

A major competitor going bust is almost always good news for those remaining & it will be intereseting to see the broker forecasts in the coming weeks. The shares have been much higher today and were inexpensive in the first place. I bought a small amount just north of 700p.

[judyelliot] 10/9/2010 13:24

MGNS may have 'bought' these contracts but will they actually be able to take them over?

Most contracts of this kind have a 'break' clause meaning if the contractor goes into administration, the Council would be entitled to re-tender the contract and quite possibly place it elsewhere.

So I wrote 'bought' in inverted commas because they may not have actually purchased any real rights? May in fact have paid out money (not much, admittedly) for old rope ?

[gorilla36] 10/9/2010 08:28

deadly - someone allways knows in the city before the general populace...........!

[deadly] 10/9/2010 08:18

Yes good move from this excellent company.

Someone in the market knew of this yesterday - explains the purchase of 7800 after the market close well above the closing price.
I placed a limit sell order at 652 and got filled at 661!

[riskblue] 10/9/2010 08:12

Clearly the city likes the deal.

[davidlloyd] 10/9/2010 08:09

Every cloud and all that....

DL

[phillis] 10/9/2010 07:50

£200m of low margin revenues adds £15m + to market cap

ABSURD
(EDIT: £40m !)

[johnrxx99] 10/9/2010 06:08

Well done Mr Morgan, good deal it seems.

[piedro] 08/9/2010 13:23

Morgan Sindall 'fights hard to stand still' as public sector cuts construction
... ... The Morgan Sindall boss said Connaught's problems may provide "minor opportunities", but warned: "I suspect they have contracts that most people will not be keen to take on. ... "


Connaught to enter administration, 10,000 jobs at risk
... ... The proposed administration already means that housing associations will need to find new contractors to maintain their properties, with businesses such as Mears and Morgan Sindall (LSE: MGNS.L - news) eyeing deals that could lead to some Connaught staff being kept on. ...


Rival contractors are vying to take over Connaught jobs as the firm confirmed its fall into administration.
... ... Bob Holt, chairman of Mears Group, said: "We are watching the situation carefully and we are ready and willing to pick up work if it becomes available, we have been approached.". ...

[piedro] 01/9/2010 10:03

More contracts announced - there was one yesterday for £5m, but double figures are better.....

£20m contract powers Morgan Sindall
Date: 01 September 2010
Construction and infrastructure company Morgan Sindall has secured a £20 million project to build a manufacturing plant for Aggreko, the temporary power provider.
Sindall said it would create up to 200 jobs during the construction phase.
Aggreko, whose generators are used worldwide, is relocating its Dunbartonshire facility to the new single-storey building, covering 160,000sq ft of manufacturing space and 25,000sq ft of office and ancillary accommodation, under previously-announced plans.
Work begins this month and is expected to complete next June.
Harry Thorburn, Morgan Sindall managing director in Scotland, said: "The manufacturing sector is showing encouraging signs of growth in Scotland with a significant rise in new orders."

[piedro] 19/8/2010 12:57

Plans for new-look Stockbridge Village approved
16 Aug 2010, 08:27
Michael Hunt
The regeneration of Stockbridge Village centre has been given formal approval by Knowsley Council.
The council's planning committee agreed unanimously to approve the £25m proposals that includes the creation of a new swimming pool, gym and leisure facilities, learning resource centre, police access point, primary school, children's centre and family centre, multi-use games area and a supermarket.
... ...
Barry Roberts, Morgan Sindall area director, said: "These changes will have a tremendous impact on the local economy during the construction process and upon completion by generating local job opportunities.
"We have considerable experience of delivering complex schemes like this and we understand the logistics involved in completing multiple phases on time and to the highest standard." ... ...

[jashunter] 17/8/2010 09:58

A very sound company. Strong cash position, negligible pension deficit, well managed, well placed to face any further challenges and to benefit from upturn in future. Happy to hold and receive good divi.

[jadeticl] 16/8/2010 15:40

Just back from holidays so am reading results for first time. Given the prevailing economic conditions the results appear fine. Pleased the divi was held. That suits me for now.

[pallett] 09/8/2010 16:00

Look very interesting!

[deadly] 09/8/2010 09:00

Excellent results: P/E 7, yield 7.5%

liked these bits:

- Forward order book improved by GBP0.5bn since the start of year to GBP3.7bn
- net cash balance of £138m (2009: £89m)
- Well placed to increase profitable market share
- Positive start continuing which underpins our confidence of meeting our expectations for the full year

what more do you want? Far too cheap.

[master rsi] 09/8/2010 07:34

INTERIMS TODAY

Maintains dividend and cash balances well UP ...........

Morgan Sindall revenue down 14% in first half

Construction and regeneration group Morgan Sindall reported a 14% fall in first-half revenue to £0.98bn from £1.14bn.

Adjusted profit before tax for the six months to June 30 was 3% down at £23.1m compared with the previous £23.9m.

The group held its interim dividend at 12p.

Cash balance was £138m, up from £89m, with £100m of undrawn banking facilities and no material pension deficit.

The group said its forward order book had improved by £0.5bn since the start of year to £3.7bn.

Construction & Infrastructure recorded an operating profit of £12.2m, down from the previous £15.0m, on revenue of £612m versus £797m.

Affordable Housing was flat, with operating profit of £6.9m (2009: £7.1m) on revenue of £173m (2009: £178m).

Urban Regeneration improved to an operating profit of £0.8m against a 2009 loss of £1.1m, on revenue rising to £15m from £5m.

During the period Construction and Infrastructure Services were combined in a new division, increasing efficiency.

The group acquired Powerminster Gleeson Services, expanding Affordable Housing division's response maintenance scope and capabilities.

Chairman John Morgan said, 'These results demonstrate our continued strategic and operational progress.

'Whilst we are conscious that market conditions remain challenging, our financial strength, breadth of capabilities and leading positions across a range of market sectors leave us well placed to capture further market share.'

A continued focus on cost reduction had seen a further £16m of annualised savings realised, in addition to £38m announced.

[piedro] 05/8/2010 12:18

Interims Monday 9th of August.

[piedro] 15/7/2010 09:35

Morgan Sindall has been awarded a £5.2m construction contract to renovate the University of Sunderland's Sciences Complex.

[deadly] 02/7/2010 22:14

Nice trading update. This company is so undervalued compared to a lot of junk on the market e.g. WSH, HILS

[piedro] 01/7/2010 10:05

another contract ...

Morgan Sindall wins £16m veterinary college contract
Morgan Sindall has won a £15.6m construction contract to upgrade student accommodation at the Royal Veterinary College (RVC) in North Mymms, Hertfordshire

[piedro] 01/7/2010 10:00

It would seem that the market did not like the acquisition

[jadeticl] 26/6/2010 23:43

Orders keep rolling in, it seems. When the upturn comes tink how well placed this company will be. Mealwhile the divi looks great!

[piedro] 22/6/2010 12:21

Morgan Sindall has been awarded a £20m deal from Defence Estates for the construction of new military buildings in Woolwich, south London, which will house Army horses.
The relocation of King's Troop Royal Horse Artillery from St John's Wood to Napier Lines, Woolwich, involves construction work for administrative, technical and equestrian accommodation.
The contract covers a mixture of refurbishment and new build, and the facilities will cater for a total of 171 personnel and 132 horses.
Morgan Sindall will also be required to build an indoor riding school, external menage, all weather trotting track, farrier's / blacksmith workshop, parade ground, sadler's shop, armoury and ammunition store.
The project will also involve infrastructure works including a link road across a public highway and site entrance works.
The facility is scheduled for completion in the final quarter of 2011.

[shano2] 21/6/2010 06:48

TIDMMGNS

RNS Number : 9085N
Morgan Sindall Group PLC
21 June 2010

?

21 June 2010

MORGAN SINDALL GROUP PLC WINS GBP95.4M
TAYSIDE ACUTE ADULT MENTAL HEALTH DEVELOPMENTS PROJECT

Morgan Sindall Group plc, the construction and regeneration group,has been
awarded a GBP95.4 million contract to design and build the Tayside Acute Adult
Mental Health Developments scheme in Scotland.

Morgan Sindall, the Group's construction and infrastructure division, working
with Morgan Sindall Investments Limited and Robertson Capital Projects, on
behalf of NHS Tayside and the North of Scotland Planning Group, will design and
build new mental healthcare facilities at Murray Royal Hospital in Perth and
Stracathro Hospital in Angus.

The inpatient facilities provided will create 183 new bed spaces at Murray Royal
Hospital, with an additional 52 at Stracathro Hospital. Work at Stracathro
Hospital in Angus is scheduled to complete in September 2011 and at Murray Royal
Hospital in April 2013.

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

"We are very pleased the scheme has reached financial close and we have been
chosen to deliver these major healthcare projects. This appointment recognises
our expertise in the design and delivery of high-value, complex facilities,
particularly PPP and PFI hospitals. This contract demonstrates how the combined
skills of the new Morgan Sindall construction and infrastructure division,
supported by Morgan Sindall Investments, enables us to provide state-of-the-art
facilities. It also enhances our position as one of the leading construction
groups in the health sector."

Ends

[piedro] 16/6/2010 12:43

Morgan Sindall awarded £18.5m college deal
Morgan Sindall has been awarded the construction contract for an £18.5m sixth form college in Lowestoft, by Suffolk County Council.
The contractor will design and build the purpose-built facility at the Lowestoft College campus in St Peter's Street. It will accommodate around 950 pupils and replace the existing sixth forms at three high schools in the town.
With a floor area of 8,027 sq m, the four-storey building will house a large performing arts space, specialist teaching facilities equipped with the latest information technology systems, and learning pods suspended from a central atrium.
Morgan Sindall will also create new car parking facilities and carry out additional landscaping works.
The new sixth form building will achieve a BREEAM rating of 'Excellent' and will incorporate a number of sustainable features including high levels of insulation, rainwater harvesting and photovoltaic technology which converts sunlight to energy.
In addition, Morgan Sindall will create a series of concrete ducts beneath the building to supplement its heating supply with natural thermal energy from the earth's core.
The project is due to be completed in August 2011.