Morgan Sindall sees FY in line as inflation falls 'in some areas'

Morgan Sindall Group

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Construction group Morgan Sindall held annual guidance as it said general market conditions coming into 2023 had continued to ease, with inflation falling "in certain areas".

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The total secured workload for the group at the end of March was £8.8bn, up 4% from the year-end and up 2% versus the prior year, the company said on Thursday.

This comprised the construction secured order book of £4.9bn, up 7% from the year-end and up 9% versus the prior year, and the regeneration secured order book of £3.9bn, which was up 1% from the year end and down 6% versus the prior year.

"Based on the current visibility of workload for delivery through the remainder of the year, the Group is confident of delivering a full year performance which is in line with its expectations and with more of a weighting towards the first half than in recent years," said chief executive John Morgan.

Reporting by Frank Prenesti for Sharecast.com