For the six months to 30th June 2024 Morgan Sindall saw 14% revenue growth, reaching a record 拢2,214m ( 2023 H1: 拢1,935m), and profit before tax up 21% to 拢70.1m (2023 H1: 拢58.0m).
On the back of this, the full year results will be ahead of previous expectations, the company said.
The construction and infrastructure divisions both delivered strong revenue growth in the period, with construction revenue up 10% to 拢519m (2023 H1: 拢470m) and infrastructure up 24% to 拢530m (2023 H1: 拢428m). The fit out business grew revenues by 26% to 拢630m (2023 H1: 拢498m).
Chief executive John Morgan said: "We've delivered another record set of results in the first half, once again reflecting the high quality of our operations, with revenue, adjusted profit before tax and the interim dividend all showing strong mid to high double-digit growth in the period.
鈥淭he challenging market conditions that we experienced in 2023 are easing, as we continue to make significant strategic and operational progress across the group and remain well positioned to support the government's affordable home and social infrastructure plans.
鈥淥ur balance sheet, supported by a substantial average daily cash position, has enabled us to focus on making the right decisions to drive for long-term sustainable growth while also supporting the returns to shareholders in the period.
鈥淔ollowing our strong trading performance in the first half, combined with the high-quality secured order book and visibility for the rest of the year, we now expect to deliver a result for the full year which is slightly ahead of our previous expectations."
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