Group expects progress for its social housing business after Connaught acquisition
Morgan Sindall will look to increase market share in infrastructure and social housing in 2011, it said in a trading statement.
After a sluggish 2010 for infrastructure the construction group aims to capitalise on expected growth in the sector after the recent publication of the National Infrastructure Plan.
Morgan Sindall’s newly merged construction and infrastructure division is bidding for and delivering an increasing number of integrated projects, the group said.
The group is confident of growth for its social housing business Lovell after consolidating its market position by integrating contracts from collapsed firm Connaught.
Lovell will look to secure private funding for social housing projects after social housing budget cuts in the Comprehensive Spending Review.
Earlier this year the group partnered with Bournemouth council to create the Bournemouth Local Asset Backed Vehicle project to secure private finance for regeneration schemes.
Morgan Sindall saw strong revenue growth for its fit out business in the second half of the year but said the pipeline for larger projects in 2011 had softened.
The group has a £3.6bn forward order book.