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​Morgan Sindall pays back furlough money and lifts gloom with upbeat trading update

By 2020-11-04T08:25:00

Morgan Sindall Construction stock

Contractor says 2020 profit will beat expectations and resumes dividend payments

Morgan Sindall cheered investors this morning saying full year profits will be better than expected and announcing it will resume dividend payments next month – having paid back the £9.5m it received from the government’s furlough scheme last week.

In the summer, the firm, which blamed a 62% fall in interim pre-tax profit on the disruption caused by the covid-19 crisis in the first half of the year, said the company was on course for a £50m to £60m pre-tax profit this year – down from the £88.6m it recorded in 2019.

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