Morgan Sindall Share Discussion Threads

[redips2] 07/11/2013 12:15

well this IS nice----hope this rise holds :)

[redips2] 07/11/2013 08:58

RNS Number : 3954S

Morgan Sindall Group PLC

07 November 2013

7 November 2013

Morgan Sindall Group plc

Q3 Interim Management Statement

Morgan Sindall Group plc ('the Group') today announces its Interim Management Statement for the period from 1 July 2013 to date.

Group Performance

The overall Group performance in the third quarter ('Q3') was in line with the Board's expectations as at the time of the half year results on 5 August 2013 and followed a broadly similar trend to the first half. Within this, Group revenue held up well when compared to Q3 2012, whilst Group margin was impacted primarily by margin contraction in the Construction & Infrastructure division.

The Group's forward order book as at the end of Q3 was GBP3.3bn, up 6% from the half year position.

Operating Performance

In Construction & Infrastructure, there has been no significant change in market conditions or performance in Q3. The focus for the division remains on operational delivery, contract selectivity through the risk management of contractual terms & conditions and working capital management. As markets recover, upward pressure on material costs and subcontractor costs will provide additional management challenges.

Fit Out has seen no significant change to performance or order book in Q3 compared to the first half, however there are early indications of increasing confidence of market improvement through 2014 and beyond.

As expected, performance in Affordable Housing has improved in Q3 over the first half. This has been driven primarily by continued positive trends in its open market housing activities, with an increase in open market house sale completions of 41% in the nine months of 2013, compared to the same period in 2012. However, there remains significant competitive pressure on construction revenue and margins, exacerbated by increasing material costs and subcontractor costs.

The level of activity on Urban Regeneration projects continues to provide confidence that the division is well-placed to benefit from 2014 onwards. Since the half year, the division was appointed by South Tyneside Council as the sole developer of the GBP100m South Shields 365 town centre renewal.

Investments continued with its strategy of recycling its invested capital, with the sale of its interest in Tayside Health Holdings Limited during the period, at a value in line with expected returns from this division.

Financial Position

Net debt as at 31 October 2013 was GBP15m. The average daily net debt from the start of the year up to 31 October was GBP23m, a continued improvement from the half year average of GBP32m. Q3 average daily net debt was GBP13m.

Outlook

Based upon current progress across all its activities, the Group is on course to deliver a result for the year in line with the Board's expectations. Looking further ahead, the Board remains confident that the business is well-positioned to benefit from profitable opportunities as its markets recover.

ENDS

[hyden] 08/10/2013 18:48

Agreed. Very pleased to own this share. :-)

[hyden] 03/10/2013 21:32

Very pleased. :-)

[redips2] 03/10/2013 16:08

and still we creep up---v nice .

[hyden] 22/9/2013 08:09

Nice finish. Chart is looking great. :-)

[redips2] 20/9/2013 13:40

5 yr hi .

broker rec--not that i can find .

[smicker] 20/9/2013 12:53

Has anyone any idea what is going on here? Theres been a divi cut and director selling but the price just keeps going up. ( Not that i'm complaining ) Have broker forecasts been upgraded recently?

[piedro] 19/9/2013 10:08

X-Dividend - 12p - Wednesday (25/09/13)

[piedro] 19/9/2013 10:01

Remember, this reached £17 back in 2007.

[hyden] 18/9/2013 20:41

And hopefully much more to come. :-) The whole sector is turning round imho. I own BBY, CLLN, COST and MGNS. I also have my eye on a few others awaiting an appropriate entry point. :-)

[redips2] 18/9/2013 15:53

18 mth hi .

[slytherin] 13/9/2013 10:48

I sold mine the other day for £7.02, but I'm wondering if this is going to fully break out.....

[redips2] 09/9/2013 15:59

18 month hi .

[hyden] 09/8/2013 19:45

Yet the price still holds up! That's got to be a positive imo. :-)

[beazer2] 09/8/2013 18:11

John Morgan has sold 500,000 shares(over 1%) at £6.64

[hyden] 09/8/2013 10:35

I quite like stocks with the quieter threads. Usually indicates an absence of short term traders and hence less volatility. I am content with nice steady progress. :-)

[redips2] 09/8/2013 10:21

i could repeat myself, but i'm all alone :) .

[redips2] 23/7/2013 11:44

nice steady progress in the past few days, all good.

[yam114] 15/7/2013 13:27

11 July 2013

Morgan Sindall Group plc

Morgan Sindall Group awarded GBP269 million redevelopment programme

Morgan Sindall Group plc is pleased to announce that Lovell, its affordable housing division, has been appointed by The Royal Borough of Greenwich as developer for a GBP269 million redevelopment programme in Woolwich.

The project, in partnership with asra Housing Group, will transform three council estates, situated to the east and west of Woolwich town centre, into 1,500 new high-quality, mixed- tenure homes. Subject to extensive consultation and the plans successfully completing the full planning process, work will begin in May 2014 and is expected to take 13 years to complete.

John Morgan, Chief Executive, Morgan Sindall Group plc said:

"We are delighted to have been chosen to work on this regeneration programme after a rigorous selection process. We have a solid record of working with communities to create successful, high-quality and sustainable mixed-tenure neighbourhoods and we look forward to working with all those involved."

[hyden] 02/7/2013 18:14

Starting to look a lot more positive now. :-)

[yam114] 02/7/2013 15:41

broke £6 today at long last.

[yam114] 12/6/2013 16:50

Franklin Templeton increased holding to over 14%.