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Morgan Sindall boss nets £12m in share cash-in

Morgan Sindall chairman John Morgan netted £12 million yesterday as he sold more than a quarter of his stake in the company following the contractor's positive interim results this week.
Mr Morgan sold 1.5 million shares at 800p - 3.6 per cent of the company's issued shares.

The cash-in still leaves him with 4.3 million shares, a 10.3 per cent stake in Morgan Sindall.

This week strong performances from affordable housing and fit out division helped Morgan Sindall post pre-tax profits of £18.2 million for the first half - up from £13.1 million in 2004 - on a turnover which increased just 2 per cent to £615 million.

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