Morgan Sindall says full-year on track

2nd Jul 2010 07:52

Morgan Sindall, the construction and regeneration group, said the positive start to the year has continued and it remains on track to meet full-year expectations.Improvements in underlying trading is anticipated to offset the estimated £2m net cost of the integration of the Construction and Infrastructure Services divisions in the current year.The group's financial position remains strong, with net cash at the half year expected to be more than £100m and average cash for the six months significantly above market forecasts.Morgan Sindall's forward order book currently stands at £3.5bn, compared with £3.2bn at the start of the year. "We have had a positive first half of 2010 and with our broad sector spread we remain well positioned to face the challenges ahead and to benefit from opportunities as they present themselves," it said.