Morgan Sindall looking for bigger jobs

10th Nov 2009 08:56

The forward order book has fallen slightly at construction and regeneration group Morgan Sindall but the group remains on track to hit 2009 targets.The order book of £3.4bn, though down slightly from the half-year stage, is supplemented by a pipeline of £900m of projects at the preferred bidder stage, the company noted.‘Given the group's increased capability to deliver projects of greater scale and complexity we expect this higher level of work at preferred bidder stage to remain a more notable feature of our order pipeline in the future,’ the group said.Cash balances in the second half of the year have continued to improve.Most of the group’s divisions continue to trade well, with Construction business identified as a particularly strong performer, but the Urban Regeneration business still operates in a tough market, though the division is expected to make a small contribution to 2009 operating profits.