Contractor's full-year results to be on target, with a booming order book this year
Social housing contractor Connaught has said it is “very confident” of delivering full-year results in line with management expectations.
In a trading update it said it has made a strong start to the year, with an order book of over £800m in the first 10 months, compared with £610m for the whole of last year.
The consensus City forecast is for pre-tax profit of £29.1m on turnover of £552m.
The company said it sees itself as well placed to take advantage of the move by registered social landlords away from traditional multi-contractor models to longer-term service partners.
Mark Tincknell, the company's chairman, said: “Connaught has continued to perform extremely well in both its core markets, and our forward earnings visibility has been further enhanced by a record order intake.”