Ahead of the company鈥檚 annual general meeting in London today, chief executive John Morgan said that Morgan Sindall was in great shape and trading well, and 2018 results would be ahead of previous expectations.
The Construction & Infrastructure business was experiencing 鈥渇urther margin growth as expected鈥�, while Property Services has returned to profit following a restructuring last year.
The Fit Out business is also doing well and outperforming previous expectations.
The Partnership Housing and Urban Regeneration businesses, Lovell and Muse, are also on track.
Morgan Sindall Group鈥檚 committed order book as at 31st March 2018 was 拢3.7bn, while the regeneration & development pipeline was 拢3.2bn.
The average daily net cash from the start of the year to 30 April was 拢126m. As a result, the group expects that the average daily net cash for the year will be in excess of 拢70m.聽聽聽
John Morgan said: 鈥淲e have had a good start to the year and all divisions are continuing to make strategic and operational progress. Our balance sheet and cash position are both very strong and give us the flexibility to continue focusing on quality of earnings in our construction activities, while investing in our regeneration activities to drive long-term value. Our strong order book and customer relationships enable us to look to the future with confidence.鈥澛犅犅�
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