Morgan Sindall ahead of expectations
July 19, 2017 – A trading update from Morgan Sindall Group reveals that 2017 is turning out to be better than expected for the business.
Trading for the six months to 30th June 2017 at Morgan Sindall has been ‘substantially ahead’ of last year, driven primarily by margin and profit growth in Fit Out and by margin improvement in Construction & Infrastructure.
As a consequence, the half-year results (to be announced on 8th August 2017) are expected to show profit before tax and amortisation in the region of £23.5m, which is 45% up on the 2016 first-half profit.
The Fit Out business has been doing particularly well, and looks like delivering a full-year result much stronger than previously expected. “Taken together with the expected margin improvement in Construction & Infrastructure and the second half weighting to Partnership Housing, the group now anticipates that its 2017 full year results will be significantly ahead of its previous expectations,” the board said.