Change of focus helps lift Morgan profits
Analysts at brokerage Panmure Gordon said while Morgan Sindall’s “immediate outlook remains challenging”, its implied full-year dividend yield of 6.1 per cent is attractive.
“These are solid results from Morgan Sindall in what remain tough markets,” said analyst Andy Brown.
“Management expect difficult markets with short-term challenges to remain but longer-term opportunities remain in the infrastructure and regeneration segments.
“It retains good exposure to the social housing sector where it enhanced its opportunity with a maintenance offering.”