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Morgan Sindall (MGNS) kept its "buy" rating from Panmure Gordon, with a 640p target price. The construction company remains in-line with expectations and the broker believes the order book remains above 3 billion pounds. Panmure notes stable affordable housing markets, helping to offset a slow new build sector. Additionally, the broker believes that the firm's shift towards regeneration projects will help boost performance in the medium term. The broker forecasts full year pre-tax profits of 46 million pounds, with a cash position of around 75 million pounds. The shares inched down 4p to 555.5p.
http://www.investegate.co.uk/Article.aspx?id=201112150700160066U
http://www.investegate.co.uk/Article.aspx?id=201110260700198403Q
Council win for Morgan Sindall By Michael Millar Date: Wednesday 26 Oct 2011 LONDON (ShareCast) - Construction group Morgan Sindall said its urban regeneration division, Muse, had won a contract for a £200m project with Basingstoke and Deane Borough Council. Muse won two separate competitive tenders; the first to develop five separate sites in Basing View and the second to create a business class hotel in the western end of Basing View, it said. Building work is due to start, subject to planning permission, at the end of 2013, the firm said in a statement. "The council has confirmed that it will commit £3.3 million to deliver critically important estate infrastructure improvements, which have already begun with the demolition of two redundant buildings and landscaping," Morgan said. "The council has also earmarked a further £5 million of investment funds to help stimulate new development at the scheme."
Morgan Sindall, the construction and regeneration group, has secured a major regeneration scheme contract in Chester city centre, with a total development value of approximately £115m.
Morgan Sindall wins Scottish work Date: Monday 21 Mar 2011 LONDON (ShareCast) - Morgan Sindall is one of the appointed contractors to two housing association framework contracts in Scotland worth a total of £210m. Morgan Sindall’s subsidiary Lovell is one of six construction partners on the Port of Leith Housing Association Consortium's framework, which is worth up to £130m over four years. The housing association is building affordable homes in Edinburgh. Lovell is one of five contractors for the West of Scotland Housing Association framework contract, which is worth up to £80m over four years. This association is building homes in Glasgow, North and South Lanarkshire, East Renfrewshire and Ayrshire.
ADFVN evening roundup Construction and regeneration group Morgan Sindall posted a 9% fall in annual pre-tax profit as the challenging trading environment continues to hurt its performance.
John Morgan, Executive Chairman, commented: "2010 was a year of important strategic and operational progress for the Group. The restructuring we conducted to create Construction & Infrastructure leaves us better placed than ever to meet our clients' needs, while Lovell's expansion in response and planned maintenance opens up exciting new market opportunities. "Trading remains challenging, but we continue to secure profitable projects. We are well placed to exploit opportunities presented in the short-term, whilst carefully monitoring market trends to maximise long-term growth potential. The Group remains financially strong with an exciting
Outlook · Order book increased to £3.6bn (2009: £3.2bn), supplemented by Urban Regeneration's development pipeline of £1.4bn (2009: £1.4bn) · Group's capabilities and broad sector spread leave it well placed to meet challenges and opportunities in the market · Current focus on targeting infrastructure opportunities in power generation and utilities, exploiting Affordable Housing's expanded capabilities, maintaining Fit Out's market share and generating construction work through investment-led opportunities
Group Highlights · Strong financial and operational performance reflecting the market leading positions of each of the Group's operating divisions · Group continues to secure profitable market opportunities · Full-service Affordable Housing offering created by extending response and planned maintenance capability through acquisition of the social housing business from Connaught · Construction and Infrastructure Services divisions combined to deliver integrated service and increase efficiency · Continued focus on cost control with £59m of accumulated annualised savings realised over the past three years, including £21m realised in 2010 · Strong balance sheet with net cash balance of £149m (2009: £118m), £100m of undrawn facilities and a defined benefit pension deficit of only £2m (2009: £3m) · Total dividend maintained at 42.0p, reflecting balance sheet strength and confidence in future prospects
http://investegate.co.uk/Article.aspx?id=201102220700096093B
Don't know why this site is so poor at showing RNS's timeously.. MGNS has put in a strong performance in current climate .( See iii site for details)
Sorry to see the demise of ROK. With all their insurance contracts & repair frameworks in place, maybe another opportunity for MGNS to expand into the property services market.
Anyone know the reason for the drop today?
no idea how gutted I am sold up below £6 to move my shares across to my isa the rise started so I thought id wait for a better re-entry........ rest is history. Happy for the rest of you though great shares these onwards an upwards I will be hanging around for a slightly better entry point if one appears to re invest here.
LP 784! Up 18.52%
MS has bought the majority of assets and contracts of Connaught for £28m from Administrators - at a discount. Great news. Rising steadily this morning. Already over 6% up. Bid/Ask currently 700 / 710 !
good to see weve broken through 600 today. May well fluctuate but definite upward trend over past 2 weeks.
I will look to sell up and move them across in the next few weeks.
To confirm a lift from their website - Dividend History Description Div for Period (pence per share) Ex Dividend Record Date Payment Date Interim 12.00 18/08/10 20/08/10 17/09/10
Not 100% sure but that sure mean you qualify for a dividend providing you were holding shares on that day ?
MGNS Dividends Latest Previous Interim Final Ex-Div 18-Aug-10 10-Mar-10 Paid 17-Sep-10 01-Apr-10 Amount 12.00p 30.00p
Just checking these went ex dividend on the 18th of this month correct? I want to move my holding into a share ISA so I can do that now without missing out on the current dividend? Thanks in advance
MIDLAND construction and infrastructure firm Morgan Sindall has secured a £1.1m contract from London Underground to carry out works as part of Crossrail’s enabling works at Whitechapel.The work will include modifications to the existing platforms and station layout.