Morgan Sindall looks to grow regeneration business

CONSTRUCTION services giant Morgan Sindall has seen an increase in revenue but a drop in profits, reflecting, it says, the tough conditions under which it is operating.

The firm, which has operations in Birmingham, Stratford and Rugby, says it has achieved success this year through winning key construction opportunities in growth areas of the market, namely energy, transport and commercial, as well as growing its regeneration pipeline of work by securing five major schemes together valued at £0.8bn.
 
Looking ahead, Morgan Sindall says its strategic focus is to develop its market position across its construction activities and to use the cash generated from those operations to invest in, and grow, its regeneration-related businesses.

It revealed it has a stable forward order book of £3.4bn and a growing regeneration pipeline of £1.8bn.

Revenue for the calendar year 2011 was up by 6% to £2,227m (2010: £2,102m) with profit before tax, amortisation and non-recurring items of £45.3m (2010: £51.3m)