Morgan Sindall FY results to be 'slightly ahead' of previous expectations

5th Nov 2026 11:18

(Sharecast News) - Morgan Sindall said on Thursday that full-year 2026 results were set to be slightly ahead of its previous expectations as it announced the launch of a £75m share buyback.

The construction company pointed to continued strong trading momentum and strong visibility of secured orders through to the end of the year.

Morgan Sindall said the Fit Out division has continued to deliver strong profits and is well positioned to deliver a full-year result slightly ahead of the prior year's operating profit of £139.9m.

Meanwhile, the construction segment has continued to perform strongly and is on track to deliver materially higher, double-digit profit growth, "significantly" ahead of expectations, having delivered operating profit of £39m in 2025. It also said operating margins for the full year are now expected to be at the upper end of the 3.5%-4.0% medium-term target range.

Infrastructure has performed well in the year to date, it said, and is also expected to deliver double-digit profit growth, having posted operating profit of £37.2m in 2025.

The partnership housing division has continued to strengthen its resilience, through self-help and capital efficiency measures for the forthcoming years, it said. "While profits are now expected to be below previous expectations, reflecting prevailing market conditions of low consumer sentiment and affordability pressures, the division is well placed to benefit from the Government's Your First Home scheme."

Mixed Use Partnerships is expected to show a loss for the full year similar to prior year levels.

The company also announced the launch of a £75m share buyback which is expected to be completed towards the end of next year.

"Despite the prevailing market conditions, the strength and breadth of the group's diverse operations, the visibility provided by its high-quality order book for the forthcoming year, and alongside the self-help measures already taken accompanied with the capital allocation discipline in place, the group remains confident that the outlook for 2027 will be in line with current expectations," Morgan Sindall said.

At 1115 GMT, the shares were up 10% at 4,566p.

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