Morgan Sindall Group has delivered another record set of results in the first half of 2024, once again reflecting the high quality of its operations and the talent and commitment of its people.

Group revenue increased by 14% to £2.2bn, adjusted operating profit before tax was up 17% to £70.1m and the interim dividend up 15% to 41.5 pence per share.

The Group’s balance sheet remains strong with net cash of £351m, and together with its high-quality secured order book of £8.7bn, the Group is well-positioned for the future.

Sector overview

In highways, work started on the £83m M27 project in Hampshire and works continued on the A12 in Essex, both part of National Highway's Concrete Roads Programme - Reconstruction Works Framework, a four-year programme to repair or replace the concrete surface of motorways and major A roads in England. In addition, works continued on safety-critical upgrades to the M40-M42 interchange for National Highways, this is part of the original Smart Motorways Alliance. Through Early Contractor Involvement (ECI), we continue to work with Oxfordshire County Council on their project to replace Kennington Railway Bridge on the A423 Southern Bypass.

In nuclear, decommissioning works continued for Sellafield on the Infrastructure Strategic Alliance and on the £1.6bn Programme and Project Partners contract. In addition, work progressed on the 10-year Clyde Commercial Framework for the Defence Infrastructure Organisation and on the D58 facility for BAE Systems.

In energy, the division secured a position with National Grid on The Great Grid Partnership, the first phase being the delivery of an initial nine Accelerated Strategic Transmission Investment (ASTI) projects. The ASTI projects form a key part of The Great Grid Upgrade which is building the significant new electricity network infrastructure required to reduce the UK's reliance on fossil fuels by connecting 50GW of offshore wind by 2030.  Elsewhere, work continued at Dinorwig in Wales, and commenced at ZA, in Hertfordshire as part of the RIIO-2 electricity construction EPC (Engineer, Procure and Construct) framework for National Grid. Under this framework the division also secured several schemes to maintain the existing onshore electricity transmission network in England and Wales. Work also continued in Shetland for Scottish and Southern Electricity Networks (SSEN), which includes an 11-kilometre 132Kv twin circuit underground cable project and construction of Gremista substation.

In water, work continued on various environmental improvement projects and wastewater treatment upgrades as part of the long-term AMP7 framework with Welsh Water. In addition, civil engineering works continued on the west section of the Thames Tideway 'super sewer' project to help prevent pollution in the Thames

In rail, the division secured a position on the CP7 Eastern Framework for Network Rail, a £3.5bn framework through the Control Period 7 investment phase to 2029, this builds on our position secured on the CP7 Wales and Western Framework in 2023, a £2bn programme. In the period, work commenced on the Colindale Station Remodelling for Transport for London, a project to upgrade Colindale station with a new ticket hall and step-free access. Works continue on the project to extend Beckton Depot and a project to upgrade Surrey Quays station, both for Transport for London, as part of its London Rail Infrastructure Improvement Framework. Elsewhere, work continued on several schemes for Network Rail, including the Bangor to Colwyn Bay line, as part of the CP6 Wales and Western framework, the lift scheme at Liverpool Central Station as part of the Mersey Rail framework, and the Northumberland Line extension project.

You can view full details on the half year results from across the Group at the Morgan Sindall Group website.