Morgan Sindall sees FY in line as inflation falls 'in some areas'
Morgan Sindall Group
3,870.00p
16:40 23/12/24
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".
Construction & Materials
12,006.95
17:09 23/12/24
FTSE 250
20,419.09
17:09 23/12/24
FTSE 350
4,471.06
17:09 23/12/24
FTSE All-Share
4,428.73
16:44 23/12/24
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