Order book eases at Morgan Sindall

17th Dec 2009 07:12

Construction and regeneration group Morgan Sindall is still on track to meet expectations for the current year.The group's Fit Out division is still trading strongly, with margins remaining healthy, while the level of tendering activity is on the rise.The Construction division continues to see vibrant demand from the public sector. Two big projects, the £100m Tayside Mental Health and the £200m Hull Building Schools for the Future contracts, are close to being completed, and financial close on these should be achieved in the first quarter of next year.Infrastructure Services is enjoying a 'reasonably buoyant market' though the bidding processes are proving more extended than originally expected.Affordable Housing is seeing a reasonable pipeline of refurbishments and new build housing opportunities but Urban Regeneration's market remains subdued.The group's forward order book stands at £3.2bn, down from £3.6bn at the end of June, however this forward order book is supplemented by over £900m of projects at preferred bidder stage, all of which have been awarded during the second half of this year.