Morgan Sindall has reported an “increasing” workload in its latest trading update, as it forecast a full-year performance in line with its expectations.
The company said its total secured order book as at September 30 was £9.1bn, up 7% on its previous year-end position and on a half-year level of 2023.
Morgan Sindall said market conditions since August had remained “difficult but manageable”.
The company said its construction and infrastructure divisions had performed better than expected, while equipment had “continued to trade strongly”. In August, Morgan Sindall credited a strong performance in equipment for the record revenues and profits it posted in the first half of this year.
However, the update said property services performance “remained challenging”, with progress on the repair program “slower than expected”, and the annual loss for the year was estimated higher than expected.
Morgan Sindall chief executive John Morgan said: “Overall market conditions remain challenging but manageable. Against this backdrop, our high-quality secured order book and operational delivery capabilities give us a strong confidence for the remainder of the year and we are on track to deliver a full-year performance that is in line with our expectations.”
In October, Construction news named Morgan Sindall as number two in the CN100 list of the UK’s leading contractors thanks to its turnover of £3.6 billion in 2022.
