Strong start to year for '˜Gateway' firm in Blackpool
Urban regeneration and property development company Muse Developments, contributed to half year results by parent company Morgan Sindall Group plc.
Muse is carrying out the £220m Talbot Gateway regeneration scheme in Blackpool.
Advertisement
Hide AdAdvertisement
Hide AdThe Group has reported operating profit before amortisation and exceptional operating items up 17 per cent to £18.2m on revenue of £1,148m.
The Group reports an order book of £3,148m, an 11 per cent increase from £2,826m, supported by a £3.2bn pipeline of regeneration schemes, up one per cent on the previous year end position.
Adjusted earnings per share saw a 22 per cent rise for the period to 29.8p (.
The group, in astatement, said: “The interim dividend has been increased by eight per cent to 13p per share with the Group on track to deliver a full year result slightly above previous expectations.
Advertisement
Hide AdAdvertisement
Hide Ad“It’s been a strong start to the year for Muse with £400m of construction contracts currently on site and the combined order book and forward development pipeline maintained at £2.4bn.”
The company said work was progressing on the design of a new town centre hotel, which is proposed to form the second phase of Muse’s Talbot Gateway scheme in Blackpool.