News Column

Margins hit at Morgan Sindall

February 19, 2014

MICHAEL OGUNLEYE



CONSTRUCTION group Morgan Sindall said profits fell 34 per cent last year as its margins were hit by growing competition and costs in infrastructure and affordable housing.


The firm said profits before tax fell to 31.3m on revenues up two per cent at 2.09bn.


The FTSE 250 company, whose building clients range from the Crown Estate to Yorkshire Water, said it expected further pressure on supply chain costs and skills availability in 2014.


Shares fell 6.6 per cent to 738p.


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Source: City A.M. (UK)


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