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Share Name Share Symbol Market Type Share ISIN Share Description
Morgan Sindall Group Plc LSE:MGNS London Ordinary Share GB0008085614 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  6.00 0.37% 1,624.00 59,068 16:35:06
Bid Price Offer Price High Price Low Price Open Price
1,616.00 1,618.00 1,642.00 1,606.00 1,642.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 3,212.80 126.20 212.40 7.6 763
Last Trade Time Trade Type Trade Size Trade Price Currency
18:08:25 O 295 1,626.66 GBX

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Date Time Title Posts
10/11/202214:56MORGAN Syndall RETURNS TO GLORY890
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23/2/201103:50*** Morgan Sindall ***1
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Morgan Sindall (MGNS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
18:08:311,626.662954,798.65O
17:59:401,624.0097215,785.28O
17:57:361,625.8975012,194.15O
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Morgan Sindall (MGNS) Top Chat Posts

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Posted at 01/12/2022 08:20 by Morgan Sindall Daily Update
Morgan Sindall Group Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker MGNS. The last closing price for Morgan Sindall was 1,618p.
Morgan Sindall Group Plc has a 4 week average price of 1,418p and a 12 week average price of 1,330p.
The 1 year high share price is 2,600p while the 1 year low share price is currently 1,330p.
There are currently 46,965,629 shares in issue and the average daily traded volume is 53,798 shares. The market capitalisation of Morgan Sindall Group Plc is £762,721,814.96.
Posted at 10/11/2022 14:56 by cruelladeville
Nice to see another good day for MGNS stock. Long may it last.
Posted at 24/10/2022 10:10 by cruelladeville
Couldn't resist buying a few more shares at 1397p this morning. Averaging down purchase price somewhat here.
Posted at 14/9/2022 20:06 by cruelladeville
Looking like a >6% yield at today's closing price. Not often you see that here. I think I will top up my holding tomorrow.
Posted at 15/8/2022 07:54 by galeforce1
Note from Numis, following MGNS's H1 2022 results. The interesting bit is the last paragraph which explains the costs & complexities of the 'Developer Pledge'. MGNS previously signed this for the Partnership Housing Division, and stated the costs would be 'non-material'. Now it has been obliged to sign for the Urban Regeneration Division and costs are undoubtedly 'material'. £7m charge in H1. Looks like a further £40-£50m has to be paid up-front to the government, but much of this should later be recovered from contractors.


Morgan Sindall (Buy, TP: 3,000p) Upgrade driven by Fit Out momentum

Morgan Sindall has reported record H1 profit, delivering further growth on H1-21 which was itself a step change in performance. For context, EBIT is +52% vs H1-19. This is despite a very challenging operating environment in which cost inflation has impacted some project margins. Due to continuing strong momentum in Fit Out, we upgrade current year PBT +6%. As we argued in our recent longer note, we believe the division is benefiting from medium-term drivers of changing working practices and increased EPC requirements for commercial premises. With an orderbook equivalent to >2.5x revs and continued organic momentum across the divisions, we estimate medium-term targets represent c.40% further profit growth. We reiterate our BUY recommendation and £30 target price.
Download Upgrade driven by Fit Out momentum
(4 pages)

Group. H1 revs +9% y/y to £1.7bn with EBIT +4% to £56.9m at a margin -10bp to 3.4%. Market conditions were a headwind; the impact on total build cost and increased strain on the supply chain is expected to continue in H2. Demand remained resilient with the orderbook +2% y/y to £8.5bn. We upgrade NSe FY22 PBT +6% to £134m; we retain FY23 at this stage. The interim divi is +10% y/y to 33p and we now expect a full year divi of 100p (5.1% yield). H1 average daily net cash of £264m remains very high albeit -£30m y/y, predominantly due to investment in Partnership Housing. We now forecast FY22 av. net cash of £250m.
Divisional. Construction & Infra margin increased further to 3.2%; Infra volumes were lower y/y as expected due to timing, offset by growth in Construction (where preferred bidder work grew). Fit Out EBIT +10% y/y, and we now expect £50m for FY22; it maintained its high orderbook. Property Services delivered growth albeit still impacted by delays to decision-making. Partnership Housing EBIT +15% y/y with the margin +40bp to 4.9% and capital employed is now at £179m; av. site size has grown 39% with the number of sites +2%. Urban Regen adj. LTM ROCE was 20%.

Developer Pledge. As previously announced, Partnership Housing signed the developer Pledge and the provisions are not expected to be material to group. Urban Regen has taken a £7m H1 provision in relation to the extended liability period, and in July received a letter from UK Govt requesting it to commit to the Pledge as a mixed-use developer. It has contractual coverage and expects to recover any costs, but its initial assessment is this would involve a charge of £40-50m, before seeking recoveries. This has been recognised as a contingent liability in the H1 accounts.

Posted at 08/8/2022 08:13 by galeforce1
Piedro - that's an interesting graph.
How serious do you think the decline in margins is?
The results looked good to me, although de-cladding is going to cost MGNS quite alot more than originally estimated.

Posted at 20/7/2022 13:31 by galeforce1
Half-year results at MGNS on Thursday August 4th. Hopefully everything is continuing to tick along nicely.

We had a trading statement on May 5th which was cautiously optimistic about meeting the 2022 guidance (operating profit of £177m), so there should be no surprises in the H1 figures.

As usual, it is the comments on forward outlook, inflationary pressures, etc. that will be critical.

Posted at 20/5/2022 20:17 by woodyjmw
Seems harsh on MGNS, we’ll oversold, but probably won’t break its trend until we’re closer to peak interest rates and inflation. Better prospects in renewable energy and infrastructure, such as 3IN?
Posted at 24/2/2022 18:04 by woodyjmw
Yes great results on a day which will live in infamy. Worrying about share price performance seems a bit trivial at this time. Can we hope for a rerating of this company, EPS of 226p and dividend 3 times what it was in 2019? This is the section from the results on cladding - no material impact currently expected:

The Group has considered the public letter to the Residential Property Developer industry from the Department for Levelling Up, Housing & Communities dated 10 January 2022, as well as the letter dated 22 January 2022 to the Construction Products Association and all other related Government press releases, communications and publications.

The Group fully agrees that the costs of remediation should not be borne by leaseholders and is supportive of working with the Government, industry and other key stakeholders to determine a solution to the issue of historic cladding and fire safety defects in buildings.

The Group has considered the scope of relevant cases across its business in line with the criteria set out in the 10 January 2022 letter and this review is ongoing. It is possible that a relatively small number of cases will be identified where the Group has a liability leading to remediation. In accordance with the Group's past practice, the Group is committed to meeting its liabilities as they are identified. Whilst any such costs incurred are not expected to be material and will likely span a number of years, the industry-wide solution to the issues set out in the 10 January 2022 letter is still being determined and therefore any liability arising therefrom cannot be reliably estimated.

In common with the rest of the industry, the Group will begin paying the Residential Property Developer Tax in 2022.

Posted at 24/2/2022 13:32 by master rsi
2,250p +100p (4.65%) / Morgan Sindall doubles profit in 2021 on improved margins
(Alliance News) - Morgan Sindall Group PLC delivered a record set of results on Thursday, as the construction sector recovered from Covid-related disruption.

The London-based infrastructure construction company said profit before tax doubled to GBP129.8 million in 2021 from GBP60.8 million the year before. Earnings per share were similarly doubled to 212.4 pence from 99.8p.

Revenue for the year rose by 5.8% to GBP3.21 billion from GBP3.03 billion in 2020, and by 4.6% from the pre-pandemic comparative of GBP3.07 billion in 2019.

Operating margin also increased to 4.1%, up 180 basis points from the prior year's margin of 2.3%, and up 110 basis points from 2019's margin of 3.0%. Despite a 7% drop in Construction & Infrastructure revenue, operating profit grew by 63% over the past year thanks to the improved margin.

Morgan Sindall said better operational delivery, "disciplined contract selectivity", risk management, and a favourable project mix were behind its increased margin.

The final dividend was increased by 55% to 62.0p per share from 40.0p in 2020. The total dividend for 2021 was up 51% year-on-year to 92p, from 61.0p. This represents a dividend cover of 2.46 times.

Morgan Sindall's share price was up 3.9% to 2,232.88 pence each in London on Thursday morning.

Reflecting its strong performance in 2021, Morgan Sindall has increased targets for some divisions. Revenue over GBP1 billion is now targeted in Construction and Infrastructure divisions, having achieved GBP694 million and GBP826 million in 2021 respectively. The company expects to finish 2022 "slightly above" its previous expectations.

Chief Executive John Morgan commented: "The group is in its best shape ever. Our strategic focus on construction and regeneration is driving positive momentum across the group and is enabling us to upgrade our divisional medium-term targets today which provide the framework for our next stage of growth.

"Underpinning these targets is our commitment to maintaining a strong balance sheet at all times and to hold a substantial net cash position. This continues to allow us to make the right long-term decisions for the business."

Net cash at year-end was GBP358 million, up from GBP333 million in 2020, and GBP193 million in 2019.

Posted at 14/7/2020 11:49 by jadeticl3
I am not sure whether this news and the sharp fall in MGNS share price are connected! Is this statement (in the above posting) good news or not?
Morgan Sindall share price data is direct from the London Stock Exchange
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