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Thursday, 08 May 2014 11:32

Morgan Sindall order book up 9% at £2.6 billion

Morgan Sindall Group’s committed order book at the end of Q1 now stands at £2.6 billion, up 9% from the year- end position, according to its Interim Management Statement for the period from 1 January 2014 to date.

The overall Group performance in the first quarter of 2014 was in line with the Board’s expectations set at the time of the full year results on 18 February 2014 and expectations for the year remain unchanged.

In Construction & Infrastructure, the Group said that market confidence has continued to increase, but that current margins across most sectors and activities remain tight, with inflationary cost pressures providing additional challenges as expected. The committed order book in the division as at the end of Q1 remains strong, up 4% from the year-end to £1.6bn.

Morgan Sindall’s Investments division has continued to secure future construction opportunities for the rest of the Group through advancing projects within its existing portfolio. However, performance in the year is expected to reflect a lower level of profit generated from the disposal of investments compared to 2013.

The Group is a Tier 1 contractor with a number of the UK water companies.

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