Morgan Sindall in Brummie contract frame

22nd Aug 2011 13:43

Construction and regeneration group Morgan Sindall has been appointed by Birmingham City Council to the Constructing West Midlands framework. Morgan Sindall and its affordable housing division, Lovell, will work on projects secured through the framework under the name Community Solutions West Midlands.Community Solutions West Midlands, along with three other contractors, has been selected on the framework lot which covers works costing over £500,000. The four-year framework, which has the potential to be extended to eight years, has an estimated value of £3bn and is available to all public sector bodies within the West Midlands region."Today's announcement comes on the back of a number of recent wins including a regeneration scheme of Chester City Centre and the appointment on a number of framework agreements with an estimated value of £3.9bn," notes broker Northland Capital. "The shares appear to be discounting the difficult environment yielding 7.0% and trading on 7.7x current year earnings," the broker added. --jh