Morgan Sindall announces their total dividend for the year has been increased by 11% to 59.0p per share (FY 2018: 53.0p), which includes a proposed increase in the final dividend of 12% to 38.0p per share (FY 2018: 34.0p), reflecting the improved result in the year, the strong balance sheet and the Board's confidence in the future prospects of the Group. The total dividend per share is 2.7 times covered by adjusted earnings per share.
Other financial highlights include:
Strong profit growth driven by strategic focus on construction and regeneration
o Revenue up 3% to £3.1bn, with adjusted operating margin up to 3.0% (FY 2018: 2.9%)
o Adjusted profit before tax up 11% to £90.4m
Continued balance sheet strength
o Average daily net cash increased to £109m (FY 2018: £99m). Year end net cash of £193m
Well set for future growth with high quality order book
o Secured workload up 14% to £7.6bn
