Morgan Sindall Share Discussion Threads

[cruelladeville] 15/9/2023 19:55

True. MGNS still cheap though for a debt free high quality business with a growing order book? Bought in a few months ago at a shade under 1400p so I'm quite happy.

[thamestrader] 15/9/2023 16:22

Never fall in love with a stock, they said.

So I had to let go at 2091p this morning.

[eigthwonder] 12/9/2023 14:48

It helps that the founder still has his name on the company and most of his wealth tied up in it - he'll try very hard to maintain and grow that dividend

[cruelladeville] 11/9/2023 11:10

Nice to see +£20.00 here again.

[thamestrader] 22/8/2023 16:02

What a great share this has been this year. Totally untroubled by the market chaos.

[piedro] 10/8/2023 15:34

FWIW,
A comparison between Morgan Sindall & Kier Group



data taken from: Construction Enquirer - Top 100 contractors – wins in year to July

[johnrxx99] 03/8/2023 04:02

Very solid and shows what a class company it is.

[master rsi] 02/8/2023 22:31

1912p -12p / Morgan Sindall hails record results as revenue, profit and orders jump
(Alliance News) - Morgan Sindall Group PLC on Wednesday hailed a record first-half as it reported strong growth in revenue, profit and orders.

The London-based construction and regeneration company said revenue in the half-year to June 30 climbed 14% to GBP1.94 billion from GBP1.70 billion the year before. Pretax profit rose 8% to GBP58.0 million from GBP53.7 million and earnings per share advanced 6% to 100 pence from 94.3p.

The order book of GBP9.1 billion at the year-end was 7% higher than GBP8.5 billion last year and the strong financial performance saw shareholders rewarded with a 9.1% increase in the dividend to 36 pence from 33p.

Chief Executive John Morgan said: "We've had a record first half of the year, notably from our Fit Out business which has delivered another outstanding performance in the period, demonstrating the high quality of this business."

"Although the wider economic backdrop remains challenging, conditions have generally eased across many of our markets as the year has progressed," Morgan said.

The firm, which increased expectations for the full year in June, said there had been no change to forecasts since then and it remains confident of delivering another record performance.

The company noted an excellent performance from Fit Out where operating profit soared 43% to GBP30.4 million from GBP21.2 million. Medium-term targets have been significantly upgraded to reflect market opportunities and the high quality of business, the company said.

Construction delivered good revenue growth, up 20% to GBP470 million, with margin in its target range at 2.6%. Infrastructure posted a strong performance with revenue up 15% to GBP428 million at an operating margin of 3.7%.

But cost pressures and operational challenges in Property Services drove a trading loss of GBP4.1 million compared to an operating profit of GBP2.5 million a year ago.

[riverman77] 02/8/2023 20:15

Strange time to release results. Looks pretty good overall - once again fit out is driving the performance, offsetting weakness in some of the other parts of the business.

[standish11] 02/8/2023 19:34

Commenting on today's results, Chief Executive, John Morgan said:

"We've had a record first half of the year, notably from our Fit Out business which has delivered another outstanding performance in the period, demonstrating the high quality of this business.

Although the wider economic backdrop remains challenging, conditions have generally eased across many of our markets as the year has progressed. Our strong balance sheet, with a substantial net cash position, allows us to continue operating efficiently and effectively and to focus on making the right decisions to drive for long-term sustainable growth.

The positive momentum across the Group is driven by our high-quality and substantial order book across a number of sectors covering the built environment. We upgraded our expectations for the full year in June, primarily based on an anticipation of continued outperformance from Fit Out. Since then, there has been no change to our overall expectations for the Group and we remain confident of delivering another record performance.

Results for H1 released at 6.30pm today!

[cruelladeville] 25/7/2023 19:47

Me too. Bought on the way down at

[thamestrader] 25/7/2023 16:28

Yes, I haven't had these long, but they've served me well.

[cruelladeville] 25/7/2023 14:09

Nice to see a decent run in MGNS shares with the wider market going nowhere. 2000p here soon?

[johnrxx99] 17/7/2023 05:49

Most of the housing is in partnership with Local Councils or other government bodies.

After the next election, assuming there is change, I'd like to think Lovell will do very well.



There is exposure but at the bottom end of the market which should recover faster when interest rates fall.

[galeforce1] 14/7/2023 13:40

My understanding is that there is some exposure to the market on the housebuilding side.

[riverman77] 14/7/2023 13:33

Yes the housebuilding side should be reasonably resilient given it is partnership deals. No surprise the fit out doing well - a lot of offices need upgrading to meet sustainability requirements and to tempt workers back to the office.

[cruelladeville] 14/7/2023 13:24

I don't think Lovell (Morgan Sindall) are in speculative house building these days, preferring partnership deals with councils and housing associations?

[galeforce1] 14/7/2023 12:44

It was good to see that surprise trading update at the end of June, telling us that Fit Out is making much more money than expected.

MGNS were expecting Fit Out to make about £44m a year. Presumably they now expect Fit Out to make more like £60m in 2023 and are seeing a much bigger order book.

The problem division at the moment must be housebuilding. As part of Partnership Housing and Urban Regeneration I think MGNS build about 2000 houses per year, mostly at the bottom end of the market. Sales activity must have stalled and prices weakened. I'm not sure how much housebuilding contributes to the bottom line.

Rising interest rates must also mean that the cash on the balance sheet is producing a useful yield. £300m at 2.5% would be £7.5m.

[johnrxx99] 14/7/2023 10:18

Took a nibble a few days ago.

[johnrxx99] 04/7/2023 03:26

The Naked one bought in on the 29 June based on the update. Every little helps.

[cruelladeville] 30/6/2023 19:34

Thank you. It had never crossed my mind actually.

[piedro] 30/6/2023 16:28

FYI ...

Super sewer contractors safe from Thames Water crisis
Contractors working on the £4.1bn Thames Tideway project will still get paid whatever happens to debt stricken client Thames Water. ... ...

[cruelladeville] 30/6/2023 13:48

Good to see a decent short term share price performance here. Should continue to perform despite a toasted economy.

[cruelladeville] 15/5/2023 14:44

Very nice dividend windfall to look forward to this week.