Order book up at Morgan Sindall
By Sarah Ann McCay08 May 2014
Morgan Sindall Group announced its first quarter 2014 results were "in line with board expectations".
The UK construction and regeneration group’s committed order book stood at £2.6 billion as of the end of the first quarter, up 9% from the year-end position, while the regeneration and development pipeline was up 2% at £3.1 billion (€3.8 billion).
In the construction and infrastructure division, backlog at the end of the first quarter was up 4% from the year-end to £1.6 billion (€1.96 billion).
In affordable housing, the group’s construction and services activities remained somewhat depressed by labour and material cost inflation, while in regeneration the company focused on the development and building out of existing and new schemes.
Morgan Sindall said investments had continued to secure future construction opportunities for the rest of the group through advancing projects within its existing portfolio.
Performance in the year is expected to reflect a lower level of profit generated from the disposal of investments compared to 2013.