Morgan Sindall Share Discussion Threads

[jadeticl3] 15/2/2018 10:08

Topped up at £11.92. Looks good value to me. It may turn out to be true that Construction generally is no booming, but I bought MGNS not the Construction Industry.

[corlis] 14/2/2018 21:33

at 1210 this will need a short term breather but overall looks good.

[hatfullofsky] 03/2/2018 12:12

Guess hw has good timing ....

Data out earlier showed the UK's construction industry was "teetering on the edge" of contraction last month amid the collapse of Carillion and as Brexit and the surrounding political uncertainty curtailed investment.

The IHS Markit/CIPS UK Construction headline PMI for January was 50.2, down from 52.2 in December and marking a four-month low. It was also well below the consensus estimate of 52.0. Residential building activity slipped into decline, while overall, total industry activity barely rose.

Pantheon Macroeconomics said the collapse of Carillion, which operates in the commercial and public sectors, could not explain why the PMI fell in January.

"Although the PMI remained slightly above the 50-mark that in theory should separate expansion from contraction, all readings below 52 have signalled declining output in practice. Housebuilding was the weakest sub-component; the housing activity index fell below 50 for the first time since August 2016. By contrast, the commercial and civil engineering balances both edged above 50," the economists said.

[hatfullofsky] 02/2/2018 12:29

Naked Trader sold out, Sector out of favour, looks like a good call at the moment.
I got bleeding hands, poverty by a thousand cuts (of that falling knife).

Adding on weakness, numbers look very good and good cash levels this is a sector survivor, just may take a little time now. Hoping we get a recovery up to results.

[varies] 02/2/2018 11:33

I take comfort from the statement on 15 Jan that the collapse of Carillion has no material impact on MGNS.
With the bad news from Capita and SIG (neither being relevant in my opinion)it is hardly surprising that we should see a markdown here.

[ppreston1] 02/2/2018 11:00

I'm out. Something not right here.

[hatfullofsky] 01/2/2018 16:36

Somebody driving the share price down before results, very positive news flow. Buying opportunity ?

[piedro] 14/12/2017 14:12

4.12.17
Morgan Sindall and Omexom joint venture awarded a circa £30 million major Scottish electricity transmission project

[ariane] 14/12/2017 11:29

France's Vinci SA (DG.FR) said Thursday that its Vinci Energies division has won a 30 million pound ($40.1 million) contract to build new overhead power transmission lines in Scotland.

The concessions and construction company said Vinci Energies won the contract via its Omexom brand, which has agreed to operate the contract as a joint venture with the Morgan Sindall Group PLC (MGNS.LN). The transmissions lines are 18.5 kilometers long and will connect two substations in northern Scotland, said the company.

According to Vinci, the project will be carried out over a period of two years and includes the installation of 73 transmission towers in remote areas. It is also part of a power transmission line contract with Scottish Southern Energy Networks, the company said.



Write to Anthony Shevlin at [e-mail]



(END) Dow Jones Newswires

December 14, 2017 03:22 ET (08:22 GMT)

[pillion] 01/11/2017 13:23

Good summary Matt

I' considering a purchase here

[thorpematt] 01/11/2017 08:44

Slightly ahead is good with me.
Certainly like the cash position commentary.

Personally I like to discount valuations for debt / cash and thus produce an EV / PBT calculation (which I find mores consistent as a model). By this measure MGNS is looking rather cheap. Given that the growth is looking strong I'd say the future for the share price is pretty strong right now.

[broadwood] 01/11/2017 08:23

Peel Hunt
Morgan Sindall PLC
01/11/2017
Reiterates
Buy
Buy
0
1,500.00
1,600.00
1,444.00
100
2

[broadwood] 01/11/2017 07:27

Should keep the momentum going.

Trading in the second half of the year has continued to be strong, driven by a further improvement in margin in Construction & Infrastructure and further margin growth in Fit Out. As a result, the Group is on track to deliver a full year performance slightly ahead of its previous expectations which were set at the time of the half year results on 8 August 2017.

[chartsworth] 30/10/2017 16:00

Ramping up nicely to the Wed update...

[douglas fir] 06/10/2017 08:11

Morgan Sindall wins £160m Brighton council deal

6 October, 2017By Jack Simpson

Comment

Full screenMorgan Sindall wins £160m Brighton council deal

Morgan Sindall has landed a £160m deal to become the contracting partner for Brighton and Hove City Council for the next five years.

The firm has been named as the council’s principal contractor responsible for all projects to be built under the Brighton and Hove strategic construction partnership.

The deal, which has an option for a two-year extension based on performance, will also require early advice from the contractor on aspects such as buildability, site set-up and other associated activities.

Morgan Sindall will take over as contracting partner from incumbent Westridge Construction, which has held the role from January 2014 and will hand over in on 5 January next year.

The full value of the deal across the five years is estimated at £160m, with £96m of work expected to be up for grabs for subcontractors, particularly those providing M&E and roofing and cladding services.

[basem1] 21/8/2017 12:12

Starting to look tasty ??

[thorpematt] 11/8/2017 21:42

Yes quite so. It is in fact the wrong thing to do (take profits on winners) when the market is falling due to wider concerns.

An index short or sell off of stocks which are under-performing is usually better. Dips in market is a great time to pick up stocks which otherwise might be difficult to buy into because they are i demand.

I fancy a fair pull back in indicies along with a rise in gold but generally I might be a buyer of some stocks on the watchlists.

[shanklin] 11/8/2017 14:23

IMHO, it is always the shares that have risen the most that are most susceptible to swift falls due to panicky profit-taking. Most people are much happier moving to cash by taking a profit rather than weeding out the non-performers they are holding and accepting some losses to facilitate the re-allocation of funds into stronger performers.

I added some MGNS a little while ago and will add more if we get further significant weakness from current levels.

[tren08] 11/8/2017 13:10

The share price is taking a bit of a kicking today. Could it be profit taking & panic selling? I thought things were looking good with the order book and improved margins.

[broadwood] 09/8/2017 07:41

Liberum Capital
Morgan Sindall PLC
09/08/2017
Reiterates
Buy
Buy
0
1,450.00
1,550.00
1,422.00
100
2

[douglas fir] 08/8/2017 18:28

Tuesday 08 August
Morgan Sindall informed the stock market last month that it would beat expectations ahead of today’s half-year results, and the figures have shown a marked improvement across much of the group.

The contractor saw revenue rise 14 per cent to £1.31bn for the six months to 30 June 2017, up from £1.15bn in the same period a year earlier, while adjusted pre-tax profit was up 47 per cent to £23.7m, compared with £16.1m.

But speaking to Construction News, chief executive John Morgan revealed further key highlights of the results, including progress on some major schemes and the company’s focus over the next six months.
New Victoria

Mr Morgan said the firm’s urban regeneration and development business, Muse, was still “working up detailed plans” on Manchester’s New Victoria development, despite the project securing outline planning approval in September last year.

Muse is working in partnership with Network Rail on the £185m mixed-use development in Manchester city centre, close to Victoria station. The project will include three new buildings: one 150,000 sq ft office tower and two residential blocks.

“These things tend to take a little time to get on site from when you get outline planning,” he said.

Overall the firm’s urban regeneration arm reported a 78 per cent increase in turnover to £71m, up from £40m. However, operating profit fell to £2m from £4.6m, which the company attributed to a number of development completions taking place in the second half of the year.
Offices drive fit-out order book

The group’s fit-out division now boasts a record order book of £568m, up from the £544m the firm revealed in May this year.

Today’s results also revealed that this was strongly weighted towards commercial offices, with the sector accounting for 83 per cent of the fit-out arm’s revenue, with higher education the second largest at 12 per cent.

London accounts for two-thirds (66 per cent) of revenue, but Mr Morgan said the company had identified both Manchester and Liverpool as key growth areas for the business.

The group is already undertaking a 42,000 sq ft fit-out for EY in Manchester city centre, and has also bagged a 57,000 sq ft fit-out for Amazon in Cambridge and a £35m refurb of Bush House buildings for King’s College London.
Strong cash position

Morgan Sindall recorded strong improvements in its cash position for the first half of 2017, reporting average daily net cash of £132m for the six months compared with daily net debt of £24m in the same period a year earlier.

The group also reported net cash of £97m as of the end of the period, compared with £36m 12 months before.

However, the group said its average daily net cash position would reduce in the second half of the year “due to the phasing and timing of investments in partnership housing and urban regeneration”.

Despite this, Morgan Sindall is still forecasting an average daily net cash position at year-end of “no less than £75m”, which it says is “significantly higher than previous estimates”.
No new sectors?

Mr Morgan said the group has no real plans to expand into sectors in which it is not currently active, with the firm now focusing on improving performance across its existing divisions.

“The key thing is that we’re in the places we want to be in; we just want to make more money out of what we’ve got,” he said. “It’s about working organically on those businesses and making them better and better.”

The firm will continue to work in its six key disciplines – construction & infrastructure, fit-out, property services, partnership housing, investments, and regeneration – with no plans for expansion into new divisions or sectors, at least in the short term.
Revenue hits £200m at Lovell

Morgan Sindall’s partnership housing arm Lovell saw revenue rise 9 per cent to £200m, up from £183m, while adjusted operating profit rose to £5.5m, up from £4.6m.

Mr Morgan highlighted a number of stand-out projects, particularly in the North, including the Toxteth Street regeneration in Manchester, which is entering its second phase that will deliver 160 homes.

Other major projects for the division include a £46m regeneration scheme at Ponders End in partnership with the Enfield Borough Council to create around 160 affordable and open market homes.

In mixed-tenure developments, its regeneration and development pipeline increased by 12 per cent in the six months to June up to £853m, compared with £764m as of 31 December 2016.

Charlie Schouten, data editor & northern correspondent, Construction News

[piedro] 08/8/2017 12:10

Same chart for 6 monthly periods {since 2005}

[piedro] 08/8/2017 12:07

Chart for 6 monthly periods {since 2012}