Record results forecast for 2008, thanks to focus on education and infrastructure
Morgan Sindall is on track to deliver record results in 2008, thanks to its activity in the public sector.
The UK-based construction and regeneration group said that its construction, infrastructure and affordable housing divisions are all performing well.
The group said that performance in its construction sector is in line with expectations. Its large volume of public sector work protected it against the worst of the economic downturn, with 50% of its activity in the education sector and 20% in other public sector work in the period from 1 July 2008 to 12 November 2008.
The group said that its infrastructure services arm has a strong order book and is aiming to win work on Crossrail and water and tunnelling projects.
New contracts won by the affordable housing division won during the period included a £53m new-build social housing project for Hounslow Homes. Morgan Sindall said the division is performing robustly.
The group said the regeneration market is subdued but that its urban regeneration division has a long-term pipeline of work and is pursuing a number of public sector opportunities in the short term.