Profit forecasts upbeat as public-sector work keeps order book heavy
Infrastructure services group May Gurney has said trading in the six months to 30 September 2008 has been in line with expectations and that it is bullish about the future.
The UK-based firm said that its secured and framework forward order book is £1.25bn, thanks to “robust” local authority spending.
A statement said: “With our high visibility of earnings, good cash position and clear opportunities for growth in maintenance services, we continue to remain confident about our business prospects for the current financial year and beyond.”
The consensus forecast for the year ended 31 March 2009 is for pre-tax profit of £21.2m on turnover of £494m.
The company provides maintenance services in the highways, utilities, environmental, rail and general infrastructure sectors.