Aquisition of Amec businesses helped acccount for half of contractor's growth of 41%
Morgan Sindall has beaten City expectations with record full-year results to the year ended 31 December 2007 of 拢57.6m pre-tax profit on 拢2.1bn turnover.
Turnover was up 41% on last year鈥檚 figure of 拢1.5bn and pre-tax profit climbed 21% from 拢47.6m in 2006.
John Morgan, executive chairman, said: 鈥淥ur business strategy has proved highly successful in helping us to achieve record preliminary results, with all operating divisions delivering impressive profit growth.鈥�
Morgan added that half of the turnover and profit growth came from the acquisition of Amec鈥檚 developments and project services divisions last July.
He said: 鈥淭he businesses we acquired last year have been substantially integrated and have extended our capabilities in construction, infrastructure services and urban regeneration, thereby bringing an increasing balance to the group.鈥�
The forward order book at the start of 2008 was 拢4.3bn compared with 拢3.3bn last year.
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