Morgan Sindall Group (MGNS)

Sector:

Construction and Building Materials

Index:

FTSE 250

1,220.00p
   
  • Change Today:
    -54.00p
  • 52 Week High: 1,970.00
  • 52 Week Low: 1,060.00
  • Currency: UK Pounds
  • Shares Issued: 45.49m
  • Volume: 79,245
  • Market Cap: £555.04m
  • RiskGrade: 330

Morgan Sindall warns on profit, withdraws guidance due to Covid-19

By Michele Maatouk

Date: Wednesday 25 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Construction and regeneration company Morgan Sindall withdrew its guidance and warned on profits on Wednesday as it said the Covid-19 outbreak was disrupting operations.
During the first 10 weeks of the financial year, the group continued to perform in line with its expectations, with continued strategic and operational progress across all its activities, it said.

However, it is now experiencing disruption to its operations in a number of areas. Certain construction sites have already closed under instruction from the relevant clients and this is expected to increase across a number of divisions and activities, it said.

In addition, activity on other sites and projects is slowing and progress with some development schemes in the regeneration activities is becoming more uncertain.

"As a consequence, it is anticipated that the extent of the overall disruption will inevitably have a material impact on group profitability for the year," it said. "Given the evolving and dynamic nature of the situation, it is too early to quantify the impact and so the group is withdrawing its previous market guidance until greater clarity returns."

The company said it was cancelling the 38p a share dividend announced on 20 February but may consider paying a second interim dividend in lieu of the cancelled final dividend once there is greater visibility on the impact of the outbreak.

Chief executive John Morgan said: "These are clearly challenging times and we continue to take the appropriate action to mitigate the impact of Covid-19. The group remains well funded, with good cash liquidity and an order book of circa ?7.6bn, underpinning our confidence in the group's long-term prospects."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MGNS Market Data

Currency UK Pounds
Share Price 1,220.00p
Change Today -54.00p
% Change -4.24 %
52 Week High 1,970.00
52 Week Low 1,060.00
Volume 79,245
Shares Issued 45.49m
Market Cap £555.04m
RiskGrade 330

MGNS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
8.53% above the market average8.53% above the market average8.53% above the market average8.53% above the market average8.53% above the market average
10.53% below the sector average10.53% below the sector average10.53% below the sector average10.53% below the sector average10.53% below the sector average
Price Trend
21.75% above the market average21.75% above the market average21.75% above the market average21.75% above the market average21.75% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average
Income
44.07% above the market average44.07% above the market average44.07% above the market average44.07% above the market average44.07% above the market average
3.45% below the sector average3.45% below the sector average3.45% below the sector average3.45% below the sector average3.45% below the sector average
Growth
27.41% above the market average27.41% above the market average27.41% above the market average27.41% above the market average27.41% above the market average
5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MGNS Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Oct-19 25-Apr-19
Paid 28-Oct-19 20-May-19
Amount 21.00p 34.00p

Trades for 29-May-2020

Time Volume / Share Price
16:35 57,160 @ 1,220.00p
16:29 4 @ 1,248.00p
16:29 12 @ 1,248.00p
16:28 12 @ 1,246.00p
16:28 1 @ 1,246.00p

MGNS Key Personnel

CEO John Christopher Morgan
CFO Steve Crummett
Chair Michael Findlay

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