Construction News

25/02/2009

Lovell Assists Parent Company Morgan Sindall's Top Result

Lovell has contributed to a set of full year results released yesterday by parent construction and regeneration group Morgan Sindall plc.

Morgan Sindall, which operates through five specialist divisions of fit out, construction, infrastructure services, affordable housing and urban regeneration, has announced strong results for the year ended 31 December 2008.

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Profit before tax and amortisation has increased 15% to £71.4 million (2007: £62.1m) on revenue of £2,548 million up 20% from £2,115m in 2007.

Adjusted earnings per share grew by 22% to 127.8p (2007: 104.5p), with the total dividend increased by 11% from 38p to 42p.

The Group's forward order book currently stands at £3.7bn (2007: £4.3bn).

The Lovell order book stands at £1.3bn (2007: £1.5bn) thanks to its successful partnership working with housing associations and local authorities delivering new-build social housing, housing refurbishment programmes and urban regeneration schemes.

(GK/JM)

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