UK's Morgan Sindall H1 profit up 21%
UK's Morgan Sindall H1 profit up 21%
Overview
UK construction and regeneration firm's H1 revenue rose 8%, adjusted pretax profit up 21%
Adjusted EPS for H1 increased 22% year-on-year
Company raised interim dividend by 10% to 55p per share
Outlook
Morgan Sindall expects 2026 full-year performance to be in line with current expectations
Fit Out division profits expected slightly ahead of top end of £100m-£130m target range
Partnership Housing operating profits for 2026 anticipated slightly below prior year
Result Drivers
FIT OUT GROWTH - Fit Out division delivered 19% increases in both revenue and operating profit, driven by high project volumes and strong operational delivery
CONSTRUCTION PERFORMANCE - Construction division saw revenue rise 18% and operating profit jump 47%, supported by disciplined contract selection and strong execution
HOUSING MARKET CHALLENGES - Partnership Housing and Mixed Use Partnerships faced subdued demand due to economic uncertainty and low consumer confidence
Company press release: ID:nRSW4832Na
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 2.56 bln |
|
H1 Adjusted Operating Profit |
| GBP 111.50 mln |
|
H1 Adjusted Pretax Profit |
| GBP 116.10 mln |
|
H1 Operating Profit |
| GBP 111.50 mln |
|
H1 Pretax Profit |
| GBP 116.10 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for Morgan Sindall Group PLC is GBp5,600.00, about 12.4% above its July 22 closing price of GBp4,984.00
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)