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Morgan Sindall Group PLC on Thursday said it was confident of meeting full-year expectations underpinned by a ‘high quality’ order book. Shares in Morgan Sindall rose 0.4% to 2,258.00 pence in London on Thursday morning. The London-based construction group said trading since the start of the year has been as expected. Chief Executive John Morgan said: ‘Since the start of the year, trading has been as expected and looking ahead to the rest of the year, our high-quality secured order book gives us great confidence of delivering a full year performance which is in line with our expectations.’ Construction and Infrastructure have both performed as expected, while Fit Out’s trading has been very strong, the company said. In Property Services, the underlying operational performance has been as expected, however its first half result will also be impacted by exit costs relating to an underperforming contract. Partnership Housing has benefited from the improved housing market since the start of the year. As expected, there has been a lower level of scheme completions in Urban Regeneration compared to prior years and its full year performance is anticipated to be significantly weighted towards the second half, Morgan Sindall remarked. Morgan Sindall said the total secured order book at March 31 was £9.0 billion, up 1% from the year end and up 1% versus the prior year. Morgan Sindall anticipates that the average daily net cash for the full year will be well in excess of £300 million. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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