Morgan Sindall Group Plc
-24.00 (-1.44%)
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
  -24.00 -1.44% 1,648.00 48,439 16:35:11
Bid Price Offer Price High Price Low Price Open Price
1,630.00 1,642.00 1,662.00 1,600.00 1,600.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 3,212.80 126.20 212.40 7.8 774
Last Trade Time Trade Type Trade Size Trade Price Currency
17:47:32 O 671 1,647.988 GBX

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Date Time Title Posts
20/3/202310:22MORGAN Syndall RETURNS TO GLORY906
09/11/202012:11Just charts269
23/2/201103:50*** Morgan Sindall ***1
07/10/200910:57Can Morgan Sindall do the Double?175
17/12/200315:52Morgan=est amp41

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Posted at 24/3/2023 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 1,672p.
Morgan Sindall Group Plc has a 4 week average price of 1,576p and a 12 week average price of 1,460p.
The 1 year high share price is 2,555p 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 37,321 shares. The market capitalisation of Morgan Sindall Group Plc is £773,993,565.92.
Posted at 23/2/2023 12:53 by master rsi
Morgan Sindall - MGNS 1,770p +136p (8.32%) / profit hit by fire safety charge; confident for 2023
(Alliance News) - Morgan Sindall Group PLC on Thursday said profit fell in 2022 due to exceptional charges, but it expects to deliver 2023 results in line with its expectations.

The London-based construction company reported pretax profit was GBP85.3 million last year, down 32% from GBP126.2 million in 2021. The company said the fall was due to an exceptional building safety charge of GBP48.9 million.

The charge, which was in line Morgan Sindall's guidance back in November of GBP40.0 million to GBP50.0 million, relates to a recent UK building safety act. The new rules require the removal of flammable cladding from tall buildings and were put in place in response to the fatal Grenfell Tower fire in London in 2017.

Adjusted pretax profit was GBP136.2 million, up 6.6% from GBP127.7 million in 2021.

Revenue was GBP3.61 billion in 2022, increasing 12% from GBP3.21 billion in 2021. Morgan Sindall said significant strategic and operation progress was made in spite of market headwinds.

Looking into 2023, the company said it has a "substantial" order book, with a secured workload of GBP8.5 billion. This is down 2% from a year ago.

The company declared a final dividend of 68 pence per share, bringing the total to 101.0p, up 9.8% from 92.0p in 2021.

Chief Executive Officer John Morgan said: "While there remains significant macroeconomic uncertainty, Morgan Sindall is a strong and agile business which is well-placed to overcome the challenges of the coming year and also well-positioned to take advantage of the opportunities that arise in this type of environment.

"There are early signs that inflation, particularly labour inflation, has plateaued and is starting to fall in some areas. We look forward with optimism and although it is still early in the year, we're well-positioned to deliver a result for 2023 which is in line with our current expectations."

Morgan Sindall shares were up 7.2% trading at 1,752.00p per share on Thursday morning in London.

Posted at 11/2/2023 10:12 by cruelladeville
A great high profile job for Morgan Sindall building the new stand at Wrexham football club. Given the televised series, the highly visible publicity of the club won't do MGNS any harm at all.
Posted at 31/1/2023 21:42 by cruelladeville
Steady stream of new work being awarded to MGNS. Nothing massive but a decent flow of new projects coming in. Promising start to a likely difficult 2023.
Posted at 12/1/2023 16:35 by cruelladeville
Onwards and upwards here. Terrific quality company, good to see share price recovery.
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 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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