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Morgan Sindall FY results seen 'significantly ahead' of previous expectations
(Sharecast News) - Construction group Morgan Sindall said on Thursday that it now expects its full-year results to come in "significantly ahead" of previous expectations, following a continued strong performance from its Fit Out division. Morgan Sindall said Fit Out's performance had "continued to strengthen significantly" due to a combination of strong trading and operational execution. As a result, profits were now expected to "significantly exceed" previous expectations.
The unit's secured order book as of 31st August 2025 was £1.6bn, representing an increase of 8% on both its half-year 2025 and year-end 2024 positions, underpinning the firm's confidence for 2025 and beyond.
Partnership Housing profits remained in line with previous guidance after the division continued to strengthen its long-term partnerships with the public sector through its appointment as preferred developer on the Druids Heath regeneration scheme with Birmingham City Council, while also signing a development agreement with Cardiff Council and Vale of Glamorgan Council to deliver 2,500 new homes over the next ten years.
Trading in Morgan Sindall's Mixed Use Partnerships unit, on the other hand, was expected to continue to reflect increased investment costs, both on schemes yet to start on site and relating to future opportunities. As a result, Morgan Sindall said operating losses in the second half were now expected to be almost double the £1.5m H1 loss, with FY average capital employed now expected to be between £115m and £125m.
Both its Construction and Infrastructure arms were said to be on track to deliver profits in line with previous guidance, while Morgan Sindall's Property Services division was on track to deliver "a modest profit for the year".
Morgan Sindall added that it has "a high-quality workload and the total secured order book" of £12.2bn as of 31st August, 2% ahead of the half-year and 7% up on the 2024 year-end position.
Reporting by Iain Gilbert at Sharecast.com
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