| Profit increase for Morgan Sindall |
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| Tuesday, 07 August 2007 | |
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Morgan Sindall has announced its pre tax profits have risen by 18% for the six-month interim period to 30 June 2007. Profits have increased from £21.3 million in 2006 to £25.2 million this year, while the Group's forward order book stands at a record £4.1 billion, up from £3.4 billion in 2006. Since the period end the acquisition of Amec Developments and Amec Design and Project Services has been completed. As a result of the acquisition, its construction business will be rebranded as Morgan Ashurst. Overall Morgon Sindall has reported profit growth across all sectors, particularly in affordable housing where profit rose to £11.5m, an increase of 13%. John Morgan, Morgan Sindall's executive chairman said: "We have delivered impressive profit growth in all business areas. Fit Out and Affordable Housing have again returned strong profits, but equally pleasing is our performance in Infrastructure Services and Construction, with profits increasing from both." "The recent acquisitions will further strengthen our Construction and Infrastructure Services divisions, and create a UK-wide leading urban regeneration business. The businesses are being fully integrated and we are confident that they will be earnings enhancing in this financial year."
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