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Morgan Sindall Group PLC on Thursday said full year results will be ‘significantly’ ahead of prior guidance after increasing forecasts for its Fit Out division for the second time in four months. Shares in the London-based construction and regeneration company leapt 10% to 4,820.00 pence each in London on Thursday morning, the best performer on the FTSE 250. They have risen by 56% in the last 12 months. Morgan Sindall said Fit Out’s performance has continued to strengthen significantly due to a combination of strong trading and operational execution. As a result, profits are now expected to ‘significantly’ exceed the group’s previous expectations. The Fit Out division offers interior design and fit out services, and operates through the Morgan Lovell (design and build fit out) and Overbury (traditional fit out and refurbishment) brands. In July, Morgan Sindall raised full-year operating profit expectations for Fit Out to between £80 million and £100 million, up from the previous guide range of £60 million to £85 million. In 2024, Fit Out reported a 38% rise in operating profit to £99 million. Morgan Sindall said Fit Out’s secured order book as of the end of August was £1.6 billion, of which £900 million relates to 2026 and beyond, up 8% on both the half-year 2025 and year-end 2024 position. This underpins confidence for 2025 and beyond, the firm added, although medium-term targets for Fit Out remain unchanged. Total group orders at the end of August are £12.2 billion, 2% ahead of the half year and 7% up on the 2024 year end position. Less positively, operating losses in the second half in Mixed Use Partnerships are now expected to be almost double the £1.5 million loss in the first half, reflecting increased investment costs, with the full year average capital employed now expected to be between £115 million and £125 million. Profit in the Partnership Housing, Property Services, Construction and Infrastructure divisions remain in line with previous guidance. The group will announce its full year results for 2025 on February 25, 2026. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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