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Morgan Sindall on track

Morgan Sindall says that business in 2007 is in line with management expectations.

The group’s preliminary results will be announced next February and in a trading statement issued today, the firm said: "The positive outlook for 2008 across all our business areas remains unchanged."

It said the fit-out division is continuing to secure contracts across all market sectors and in particular from the financial services sector.

The group's construction arm has benefitted from an improving market which has led to strong growth in revenue from both organic growth and the acquisition of Amec's contracting operations. Margins at its infrastructure services division, Morgan Est, will recover to 2 per cent for the year.

Affordable housing’s margin is expected to be ahead of that in previous years, on revenue at a similar level to 2006. It said work in the mixed-tenure and Decent Homes markets showed no signs of slowing down.

The firm said that its development operation, which it also bought from Amec back in the summer, had suffered "minimal exposure to the revaluation issues currently affecting the property sector".

The group added: "The current performances of our divisions and the growing order book underpin our view that there is sustained strength in the construction and regeneration markets in which we operate and that the outlook for the Group remains positive."