Talbot Gateway firm aids parent company profits growth

Muse has worked on Blackpool's Talbot Gateway project
Muse has worked on Blackpool's Talbot Gateway project
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Urban regeneration and property development company Muse Developments, which has developments at the Talbot Gateway in Blackpool, has contributed to half-year results, by parent company Morgan Sindall Group plc, the construction and regeneration group.

It delivered profit growth in the first half of this year with adjusted operating profit up 28 per cent to £31.9m (HY 2017: £24.9m) on revenue of £1,423m (HY 2017: £1,307m), a nine per cent increase on the previous half year.

The Group reports an order book of £3,604m with adjusted earnings per share up 28 per cent for the period to 55.6p (HY 2017: 43.6p).

The interim dividend has been increased by 19 per cent to 19.0p (HY 2017: 16.0p) with the Group confident of a strong performance for the second half of 2018.

For the first half of this year, Muse moved forward on 21 projects with a total value of £450m.