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Morgan Sindall revises reporting structure ahead of half-year results

Morgan Sindall Group has revised the way it reports its divisional results, separating property services and partnership housing.

To date, the group has reported results from five divisions: construction and infrastructure; fit out; affordable housing; urban regeneration; and investments.

It is splitting affordable housing into two reporting segments: property services and partnership housing.

The group said this would “better reflect the way the business is managed and operated”.

Restated historical financials based upon the new reporting structure confirmed a £43.1m construction loss for 2015, with a revenue of £1.2bn.

Under the new structure, property services will be focused on response maintenance activities provided to the social housing and general commercial sectors, and is considered to be part of the group’s construction activities.

Partnership housing is focused on working with local authorities and housing associations, and is considered to be part of the group’s regeneration activities.

It includes mixed-tenure housing developments; building and developing homes for open market sale and for social/affordable rent; ‘design and build’ house contracting; and planned maintenance.

Morgan Sindall’s results for the half-year ending 30 June will be released in this format on 2 August.

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