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Morgan Sindall Group PLC on Thursday said it expects its full-year profits to be ahead of previous expectations, while noting strong performance from its Fit Out division. Shares in Morgan Sindall were up 3.8% to 1,806.00 pence each in London on Thursday morning. The London-based construction company said it now expects improved earnings for 2023, as a result of the ‘continued strong momentum in Fit Out and its forward order book for the second half’. This was in tandem with the anticipated net prospects for the rest of the group, it said. Morgan Sindall noted its trading update in early May, when it said it expected full-year performance to show more of a weighting towards the first half than in recent years. This was mainly because of the performance of Fit Out, which has continued to perform strongly since the trading update. Morgan Sindall now expects Fit Out to show a profit in the first half around 40% above the level reported for the same period last year. It will announce its half-year results ending Friday on August 3. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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