Construction group reports strong growth in affordable housing division

Morgan Sindall has issued a confident trading update anticipating healthy business in 2008.

The construction and regeneration group said the design and project services business acquired from Amec in July is integrating well.

Morgan Sindall

It added that its affordable housing division has increased orders in spite of market instability in the housing sector. The group expects to sell more open market housing units than in the previous financial year.

The construction and infrastructure and fit out arms of the business remain buoyant, according to the company, with a similar level of business maintained from last year.

The group released interim results in August saying that its turnover had risen 24% to £836m and that its pre-tax profits had risen 18% to £25.2m.

It will release further details in a pre-close trading statement on 13 December.