The wife of Morgan Sindall chief executive John Morgan has sold almost £450,000 of shares in the company.
Rosalind Morgan disposed of 11,543 ordinary shares at £38.90 apiece on 24 October as a “person closely associated with John Morgan”, the tier one contractor stated today in a regulatory announcement to the London Stock Exchange.
This transaction is not the first share sale by Rosalind Morgan. In April 2021, for instance, the stock exchange was notified that she sold a combined 650,000 shares with her spouse for a total of £13.3m.
And John Morgan himself sold 200,000 shares for an undisclosed price in March 2023, according to regulatory documents filed with the stock exchange.
John Morgan rose two places to third in Construction News’ latest annual table of the top 20 best-paid construction executives with a total remuneration package of £2.3m last year.
Morgan Sindall was ranked second in this year’s CN100 rankings of top UK contractors, with record turnover of £4.12bn and a pre-tax profit of £143.9m.
These figures respectively marked a 14 per cent and 69 per cent increase on Morgan Sindall’s 2022 financial performance.
And last week, the firm announced that it was set to exceed profit expectations, partly due to a strong performance from its Overbury fit-out business.
