Morgan Sindall 'well placed' for 2011 challenges

15th Dec 2010 07:27

Construction and regeneration firm Morgan Sindall said it remains on track to achieve company expectations for the current year. "Our order book remains consistent with the position at the half year, providing us with good, long-term visibility," the group said in a company statement. The Construction & Infrastructure division continues to trade positively in varying market conditions, it explained.It added that Construction revenue remains reasonably firm in the short term while in contrast the outlook for infrastructure remains encouraging. "Infrastructure revenue this year, as expected, has been affected by the delayed start of major infrastructure projects and the transition between regulatory periods in the utilities sector," said Morgan Sindall. Its Fit Out buinesses, which refurbish and fit out offices and banks, has seen strong revenue growth in the second half of this year as it signed up to more projects.Amongst its other divisions, Affordable Housing continues to make good progress as it integrates the contracts secured from Connaught. Urban Regeneration's market however remains subdued."Overall we are well positioned to meet the challenges and opportunities in 2011 and beyond," it added.