Shares in contractor Morgan Sindall rose 19p on Tuesday after it made an upbeat trading statement at its annual general meeting.

Chairman John Morgan said that since it reported its annual results two months ago, the company had made good progress after securing fit-out contracts amid an improving commercial property sector.

The company has also reached financial close on its third NHS LIFT scheme in south-east Hampshire.

Other highlights since the start of the financial year include a gas replacement works contract, secured with National Grid Transco, as well as work for Severn Trent Water, Yorkshire Water and Wessex Water.

Morgan said that the outlook for affordable housing was positive, with the company winning refurbishment work for new clients including Wirral Partnership Homes and the London Borough of Croydon.

In February, Morgan Sindall surprised the market with better-than-expected results, revealing a 34% hike in pre-tax profit to £27.9m.

Looking forward, Morgan said: “Overall our divisions are performing in line with expectations and trading conditions are positive.”

John Bishop, director, retired from the board after the AGM on Tuesday. He had worked at the company for 12 years and will take on a consultancy role.