Number will be ahead of analysts’ previous consensus figure of £134m

A booming fit-out market has meant Morgan Sindall has upgraded its profit forecast for 2023.

In a trading update this morning, the firm said profit from its fit-out business, which is one of two firms bidding the new Google headquarters building at King’s Cross, had helped swell group profit to around 40% above the level it reported for the first half last year.

In the six months to June 2002, operating profit at the business went up 4% to £56m.


Morgan Sindall’s Overbury fit-out business is one of two bidding the Google HQ scheme in King’s Cross

In this morning’s update, Morgan Sindall added: “As a result of the continued strong momentum in Fit Out and its forward order book for the second half, together with the anticipated net prospects for the rest of the Group, the Board now expects full year profit for the Group to be ahead of its previous expectations.”

Analysts had been expecting the firm to post revenue of £3.67bn this year with the consensus for pre-tax profit coming in at around £134m. Pre-tax profit last year was down to £85m after the firm was hit by a building safety exceptional charge.

The firm will release its interim results for the six months to June on 3 August.