Affordable housing developer Lovell, which is working on a major housing programme for Newport Housing Trust, contributed to a record set of half-year results released by parent construction group Morgan Sindall plc.
Morgan Sindall, which operates through four specialist divisions of fit out, construction, infrastructure services and affordable housing, has announced record results for the six months interim period to June 30, 2005. Profit before tax rose by 39 per cent from £13.1m in 2004, to £18.2m in 2005 on an increased turnover of £615m up from £604m last year.
Earnings per share for the period grew by 36 per cent to 29.72p from last year's 21.89p per share.
The board has declared an increased interim dividend up by 33 per cent to 7.00p from 5.25p in 2004.
Another strong performance from Lovell has contributed to this result with the company's forward order book now worth a record £1.4bn.
The company is continuing to work on the £32m scheme for Newport Housing Trust.
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