Morgan Sindall Orders At GBP3.5 Billion; Pipeline Healthy

2nd Jul 2010 08:03

LONDON (Dow Jones)--Construction company Morgan Sindall Group PLC (MGNS.LN) Friday said it has GBP3.5 billion of orders and that it is pursuing a healthy pipeline of infrastructure opportunities. Morgan Sindall said orders increased to GBP3.5 billion from GBP3.2 billion at the beginning of the year and the outlook for its infrastructure and construction businesses is "robust," despite delays to some projects and wider concerns about the impact of U.K. public spending cuts on major public works. The infrastructure and construction division's forward order book increased by a quarter since the start of the year, Morgan Sindall said. Morgan Sindall added demand for affordable housing and its urban regeneration services is more subdued. The company said it expects to meet its own 2010 earnings expectations. It didn't say what those were, but analysts expect the company to report earnings of 80 pence a share on average, according to FactSet. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; [email protected] (END) Dow Jones Newswires July 02, 2010 03:03 ET (07:03 GMT)