Morgan Sindall Share Discussion Threads

[jadeticl] 19/11/2010 08:52

kibes, how long have you been following MGNS? Have you been with them through earlier recessions? Have you compared the way they recognise profits compared with Connaught? Simply saying "they are in the same business" is far too simplistic. I am a fan of MGNS and have been for many years, and I am not expecting such a conservative management to go bust in this recession,

[piedro] 02/11/2010 16:28

Lovell has been appointed to two major housing frameworks, valued at £210m, in Scotland.
Glasgow City Council has selected Lovell as one of the framework contractors for the second phase of the redevelopment of the historic Maryhill Locks site. The framework, worth £75m overall, will include the creation of up to 700 new home in Glasgow's 'canal corridor'.
It has also been chosen by property management, development company and regeneration specialist Places for People as a member of its £135m, four-year framework which has the capacity to deliver 1,500 new homes across Scotland's central belt.
Lovell regional director Alan Taylor said: "With leading expertise in new-build housing as well as housing refurbishment, we strongly welcome our appointment to these key housing frameworks in Scotland."

[piedro] 06/10/2010 12:45

Morgan Sindall has been awarded a £14.8m contract to construct new civic offices for Wakefield Metropolitan District Council.
The contractor will build a five-storey commercial building at Burton Street, Wakefield.
The client is English Cities Fund (Ecf), a joint venture partnership which comprises urban regeneration and property development company Muse Developments, Legal & General, and the Homes & Communities Agency.
The new 123,000 sq ft building, in Wakefield city centre, will include open-plan office space with a central atrium, extensive glazing and external rainscreen cladding with terracotta tiles.
Chris Brown, Morgan Sindall area director, said: "As a local company, we are delighted to be involved with the building of state-of-the-art facilities for the city council's staff. We aim to reduce the carbon footprint of all our projects so we will be using renewable sources wherever possible."
Work on the concrete frame of the building will commence in October, following the completion of the piling and groundwork elements of the project.
Morgan Sindall is aiming to achieve a Building Research Establishment Environmental Assessment Method (BREEAM) rating of 'Excellent' for the scheme by introducing a biomass woodchip boiler, and using local suppliers wherever possible, in addition to control and management of waste on site.
The project is due to be completed in December 2011.

[piedro] 30/9/2010 10:48

More contracts


The four teams are:
•Mott McDonald / Bentley
•Earth Tec / Morrison joint ventre
•Morgan Sindall / Grontmij
•Black & Veatch


Lovell will tackle one of Scotland's biggest new-build council housing programmes, after winning a £45m contract from West Lothian Council.
The Morgan Sindall social housing subsidiary will design and build 545 council houses on a number of sites throughout the region. ... ...

[deadly] 27/9/2010 20:44

Naked Trader bought in last week. He rarely gets it wrong.

[shano2] 16/9/2010 12:56

Skunkjam - any chance of adding Morgan Sidnall to the title of this thread.
Thanks

[deadly] 15/9/2010 23:37

Master RSI - if you are going to continue using this thread could you at least update the header with more data as on the other one.

[gopher] 15/9/2010 11:44

Posted on the other thread re contracts last Friday.

There are always synergies on this type of deal and not withstanding the outlook for the sector MGNS looks well placed with a good dividend and cheap valuation

[the_doctor] 10/9/2010 22:38

Thing is, other contracts will be lost though...

[the_doctor] 10/9/2010 22:37

Result!
Should have seen that as likely as soon as CNT went pop

[jadeticl] 10/9/2010 22:24

Well the predictions of Mark1000 (see 420) are miles adrift, and today's news puts that view well and truely to bed. Back to 720p. Good show. And the divi may be more secure than it may have seemed at the time of announcements early this year.

[gopher] 10/9/2010 18:23

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 14:24

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 09:28

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

[deadly] 10/9/2010 09:18

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 09:12

Clearly the city likes the deal.

[davidlloyd] 10/9/2010 09:09

Every cloud and all that....

DL

[phillis] 10/9/2010 08:50

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

ABSURD
(EDIT: £40m !)

[johnrxx99] 10/9/2010 07:08

Well done Mr Morgan, good deal it seems.

[piedro] 08/9/2010 14:23

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 11:03

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 13:57

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." ... ...