Firms need to keep cash in the bank to thrive, says Morgan Sindall boss

By Dave Rogers2019-02-25T06:00:00

Strong balance sheets cut out temptation of buying work, John Morgan adds

Morgan Sindall has revealed that the minimum daily cash it had in the bank in the past two years was £25m one day last September.

The firm, which last week produced another bumper set of results, ended up with year end net cash balance of £207m in 2018, having an average daily next cash position of £99m. It expects its average daily cash position to be in excess of £70m throughout 2019.

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