Construction company exceeds expectations with positive financial results
- Morgan Sindall reports rise in pretax profit and revenue
- Stronger order book contributes to positive results
- Construction and infrastructure divisions show significant growth
- Order book increases by 5% to GBP8.9 billion
- Proposed final dividend of 78 pence per share
Morgan Sindall, a U.K. construction and regeneration company, has announced a significant increase in pretax profit and revenue. The company’s strong order book has contributed to these positive results, with pretax profit for 2023 reaching GBP143.9 million, compared to GBP85.3 million the previous year. Revenue has also seen a notable rise, reaching GBP4.12 billion, up from GBP3.61 billion. The construction division experienced an 18% increase in revenue, reaching GBP967 million, while the infrastructure division saw a 15% rise to GBP887 million. Morgan Sindall expects both divisions to report revenue of GBP1 billion in 2024. The company’s order book has increased by 5% to GBP8.9 billion at the year end. Additionally, the board has proposed a final dividend of 78 pence per share, up from 68 pence the previous year, resulting in a total dividend of 114 pence for 2023. Despite some uncertainty in the wider economy, Morgan Sindall remains confident for the year ahead, citing reducing inflation and the prospect of lower interest rates as positive factors. As a result of these positive financial results, shares in Morgan Sindall have increased by 3.2% to 2,285 pence.
Factuality Level: 8
Factuality Justification: The article provides factual information about Morgan Sindall’s financial performance, including pretax profit, revenue, and dividend. It also includes details about the company’s order book and future expectations. The article does not contain any obvious bias, misleading information, or sensationalism.
Noise Level: 3
Noise Justification: The article provides relevant information about Morgan Sindall’s financial performance, including pretax profit, revenue, and order book. It also mentions the company’s expectations for the future and the proposed dividend. The article stays on topic and supports its claims with specific numbers and percentages. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: Construction and regeneration industry
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Morgan Sindall, a construction and regeneration company. It provides information on the company’s pretax profit and revenue growth, as well as its order book and dividend proposal. There is no mention of any extreme events or their impact.
Public Companies: Morgan Sindall (N/A)
Key People:
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