Morgan Sindall sees FY in line as inflation falls 'in some areas'

4th May 2023 08:40

(Sharecast News) - Construction group Morgan Sindall held annual guidance as it said general market conditions coming into 2023 had continued to ease, with inflation falling "in certain areas".

The total secured workload for the group at the end of March was £8.8bn, up 4% from the year-end and up 2% versus the prior year, the company said on Thursday.

This comprised the construction secured order book of £4.9bn, up 7% from the year-end and up 9% versus the prior year, and the regeneration secured order book of £3.9bn, which was up 1% from the year end and down 6% versus the prior year.

"Based on the current visibility of workload for delivery through the remainder of the year, the Group is confident of delivering a full year performance which is in line with its expectations and with more of a weighting towards the first half than in recent years," said chief executive John Morgan.

Reporting by Frank Prenesti for Sharecast.com