Morgan Sindall 'bucks downturn trend'

05-08-2008

Construction and office design firm Morgan Sindall has bucked the downward trend commonly being seen in the present economic climate by announcing its forward order book is at a healthy level of £1.4 billion, it has been claimed.

Crain's Manchester Business News has reported that the company announced record results for the first six months of 2008.

Adjusted earnings per share for the firm rose 48 per cent to 60.09p per share and pre-tax profits grew 31 per cent to £33.1 million.

Stewart Davenport, managing director of the firm, told the newspaper: "[The company] has made a solid start to 2008, thanks to continued government investment in social housing provision and renewal."

At present, the company is floated on the London Stock Exchange and has an annual turnover in excess of £2 billion.

Originally founded in 1977 as Morgan Lovell, the firm changed its name in 1994 following the acquisition of William Sindall.

It now employs over 8,000 members of staff across the UK.

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