ReutersReuters

UK's Morgan Sindall gains on strong 2024 results

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** Shares of Morgan Sindall Group Plc MGNS rise as much as 6.9% to 3,777.4p

** The UK construction and regeneration company posts a 19% jump in 2024 adjusted pre-tax profit at 172.5 million pounds ($218.3 million); revenue up 10% to 4.5 billion pounds

** Co's order book up 28% to 11.4 billion pounds

** Deutsche Bank analysts estimate further earnings growth potential of about 60%, driven by upgrades in medium term targets

** Brokerage raises target price on MGNS to 4,000p from 3,600p; reiterates 'buy' rating

** Stock up ~54% over past 12 months

($1 = 0.7902 pounds)

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