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Mon October 26 2020

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Morgan Sindall order book up £400m

6 May 10 Morgan Sindall's order book has shot up by £400 million since the start of the year, the construction firm said in a trading update ahead of its Annual General Meeting today.

Morgan Sindall's order book has shot up by £400 million since the start of the year, the construction firm said in a trading update ahead of its Annual General Meeting today.

This takes its overall order book up to £3.6bn.

Morgan Sindall said it was experiencing a recovery in its fit-out markets, particularly in financial services, but the infrastructure services business was seeing lower revenue, due to the transition from AMP4 to AMP5.

Executive chairman John Morgan said: “The group has made a positive start to the year and is trading in line with our expectations.

“Fit-out continues to see improved market conditions driven in particular by demand for larger projects in the professional and financial services sector. The division’s short term outlook has improved with the forward order book increasing since the start of the year to a higher level compared with this time last year.

“Construction has made a good start to the year. Consequently the order book has increased by around a quarter since the start of the year giving us confidence regarding the outlook for this year although the uncertainty around the impact and timing of future public sector cuts in capital spending remains.”

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