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Friday, 07 May 2010 00:00

Morgan Sindall trading in line with expectations

Construction and regeneration group Morgan Sindall has published its Interim Management Statement covering the period 1 January 2010 to date. The Group’s Annual General Meeting took place yesterday.

Morgan Sindall said it had made a positive start to the year and is trading in line with its expectations. However, as expected, the infrastructure services business is seeing lower revenue due to the transition from AMP4 to AMP5.

The Group’s forward order book has increased since the start of the year from £3.2 billion to £3.6 billion.  In addition to the forward order book, Morgan Sindall’s urban regeneration division’s development pipeline remains at £1.4 billion. The financial position of the Group remains strong, with average cash for the year to date increasing over the level achieved for the comparable period in 2009. Overall, there have been no significant changes to the Group’s financial position since the publication of the Annual Report and Accounts for the year ended 31 December 2009.

Morgan Sindall said it  remained well positioned to face the challenges ahead and to benefit from opportunities as they present themselves.

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