Morgan Sindall lifts guidance as fit-out unit earnings surge

29th Jun 2023 07:53

(Sharecast News) - Construction group Morgan Sindall lifted annual guidance driven by a strong performance from its fit-out division in the first half.

The company on Thursday said the division had continued to perform strongly since a trading update in May and was now expected to show a 40% year-on-year first-half profit rise.

"Consequently, as a result of the continued strong momentum in Fit Out and its forward order book for the second half, together with the anticipated net prospects for the rest of the group, the Board now expects full year profit for the group to be ahead of its previous expectations," Morgan Sindall said.

Reporting by Frank Prenesti for Sharescast.com